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# The value of a "Tin-Rin" stock in the stock market decreased by 15% in

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Math Expert
Joined: 02 Sep 2009
Posts: 64243
The value of a "Tin-Rin" stock in the stock market decreased by 15% in  [#permalink]

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21 Jun 2016, 02:10
00:00

Difficulty:

55% (hard)

Question Stats:

71% (02:57) correct 29% (03:10) wrong based on 106 sessions

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The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value \$440. What was the approximate price of the stock two years ago?

A. \$473.
B. \$464.
C. \$455.
D. \$445.
E. \$430.

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Joined: 21 Mar 2016
Posts: 492
Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in  [#permalink]

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21 Jun 2016, 06:06
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value \$440. What was the approximate price of the stock two years ago?

A. \$473.
B. \$464.
C. \$455.
D. \$445.
E. \$430.

did the value of stock decrease 15% per year in last two years?
Current Student
Joined: 18 Oct 2014
Posts: 772
Location: United States
GMAT 1: 660 Q49 V31
GPA: 3.98
Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in  [#permalink]

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21 Jun 2016, 07:49
1
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value \$440. What was the approximate price of the stock two years ago?

A. \$473.
B. \$464.
C. \$455.
D. \$445.
E. \$430.

Let the stock value was x.

x* 0.85 * 1.07= 440

x= 440/0.85*1.07= 490 (approximately)

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I welcome critical analysis of my post!! That will help me reach 700+
Director
Joined: 05 Mar 2015
Posts: 936
The value of a "Tin-Rin" stock in the stock market decreased by 15% in  [#permalink]

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21 Jun 2016, 09:06
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value \$440. What was the approximate price of the stock two years ago?

A. \$473.
B. \$464.
C. \$455.
D. \$445.
E. \$430.

i m getting 483 as answer...
no choice seems to be the same...

-15+7-(15*7)/100=-9.05% net decrease
let initial price be X
X(1-9.05/100)=440
X=44000/90.95 = ~483

Ans A seems closer

thanks
Director
Joined: 05 Mar 2015
Posts: 936
Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in  [#permalink]

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21 Jun 2016, 09:13
mohshu wrote:
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value \$440. What was the approximate price of the stock two years ago?

A. \$473.
B. \$464.
C. \$455.
D. \$445.
E. \$430.

did the value of stock decrease 15% per year in last two years?

No its only one time decreased to 15% in lastt 2 years.
Intern
Joined: 21 Jun 2016
Posts: 29
Location: India
GMAT 1: 710 Q50 V35
GPA: 3.8
Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in  [#permalink]

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04 Jul 2016, 00:22
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value \$440. What was the approximate price of the stock two years ago?

A. \$473.
B. \$464.
C. \$455.
D. \$445.
E. \$430.

i m getting 483 as answer...
no choice seems to be the same...

-15+7-(15*7)/100=-9.05% net decrease
let initial price be X
X(1-9.05/100)=440
X=44000/90.95 = ~483

Ans A seems closer

thanks

------------------------------------

Yes I agree. The answer should be of the form 48--. I guess if the question is correct, we will just have to go with the closest option.....
Intern
Joined: 21 Feb 2016
Posts: 9
Location: United States (MA)
Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in  [#permalink]

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06 Jul 2016, 05:27
rohit8865 wrote:
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value \$440. What was the approximate price of the stock two years ago?

A. \$473.
B. \$464.
C. \$455.
D. \$445.
E. \$430.

i m getting 483 as answer...
no choice seems to be the same...

-15+7-(15*7)/100=-9.05% net decrease
let initial price be X
X(1-9.05/100)=440
X=44000/90.95 = ~483

Ans A seems closer

thanks

You are getting the correct answer... The EXACT answer is 483.7822979659153 (done in the calculator)
Manager
Joined: 21 Jun 2016
Posts: 68
Location: India
Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in  [#permalink]

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06 Jul 2016, 06:05
Okay....Since this involves calculation to a good extent ... any tips in general on fast calculations OR approximations?
May be taking this one as example how did you manipulate numbers to arrive at the final answer. {In shortest possible time}
Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in   [#permalink] 06 Jul 2016, 06:05