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A house valued at $200,000 two years ago lost 40% of its val

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Retired Moderator
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Joined: 07 Jun 2014
Posts: 4803
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
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A house valued at $200,000 two years ago lost 40% of its val [#permalink] New post 10 Jun 2018, 04:36
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Question Stats:

93% (00:32) correct 6% (00:53) wrong based on 43 sessions
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.

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.
[Reveal] Spoiler: OA

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Sandy
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Retired Moderator
User avatar
Joined: 07 Jun 2014
Posts: 4803
GRE 1: Q167 V156
WE: Business Development (Energy and Utilities)
Followers: 171

Kudos [?]: 2926 [0], given: 394

Re: A house valued at $200,000 two years ago lost 40% of its val [#permalink] New post 01 Jul 2018, 14:11
Expert's post
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.
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Sandy
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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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