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28 Jan 2020, 03:40
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
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Question Stats:
86% (01:24) correct
14%
(01:36)
wrong
based on 205
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The price of the stock of the ACME corporation decreased by 20 percent on Day 1 and by 20 percent again on Day 2. If the price of the stock at the end of Day 2 was $32, what was the price of the stock at the beginning of Day 1?
A. $64
B. $53
C. $50
D. $48
E. $40
A. $64
B. $53
C. $50
D. $48
E. $40
28 Jan 2020, 04:17
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Bunuel
Let initial price = x
AFter first 20% decrease, Price = 0.8 x
Day 2 Price = 0.8x * 0.8 = 32 (given)
i.e. x = 32/0.64 = 100/2 = 50
Answer: Option C
28 Jan 2020, 08:09
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Bunuel
day 1 value *.8*.8 = 32
day 1 value = 50$
IMO C
