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A house valued at $200,000 two years ago lost 40% of its val
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10 Jun 2018, 04:36
10 Jun 2018, 04:36
Expert Reply
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Question Stats:
93% (00:37) correct
6% (00:51) wrong based on 66 sessions
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A house valued at $200,000 two years ago lost 40% of its value in the first year and a further 20% of that reduced value during the second year.
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Quantity A |
Quantity B |
The current value of the house |
$100,000 |
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Re: A house valued at $200,000 two years ago lost 40% of its val
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01 Jul 2018, 14:11
01 Jul 2018, 14:11
Expert Reply
Explanation
To reduce $200,000 by 40%, multiply by 0.6 (reducing by 40% is the same as keeping 60%):
$200,000(0.6) = $120,000.
To reduce $120,000 by 20%, multiply by 0.8 (reducing by 20% is the same as keeping 80%):
$120,000(0.8) = $96,000.
Quantity B is greater.
To reduce $200,000 by 40%, multiply by 0.6 (reducing by 40% is the same as keeping 60%):
$200,000(0.6) = $120,000.
To reduce $120,000 by 20%, multiply by 0.8 (reducing by 20% is the same as keeping 80%):
$120,000(0.8) = $96,000.
Quantity B is greater.
gmatclubot
Re: A house valued at $200,000 two years ago lost 40% of its val [#permalink]
01 Jul 2018, 14:11
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