GRE Question of The Day: Problem Solving

A percentage question. That can be done easily by mental calculations.

Written by Take GRE Team on November 2nd, 2008 with 12 comments.
Read more articles on and and .

The best study material for scoring 1500 in GRE.

The market value of a certain machine decreased by 30 percent of its purchase price each year. If the machine was purchased in 1982 for its market value of $8,000, what was its market value two years later?

(A) $8,000
(B) $5,600
(C) $3,200
(D) $2,400
(E) $800

GRE Question of the Day by Take GRE Team on November 2nd, 2008 with 12 answers.
Read more articles on and and .

Add to: Digg / Del.icio.us / Furl / Spurl / BlinkList / Reddit

Memorise GRE words@Picture and Funny Story, Score 1500+

Score 1500+ in GRE Work on Speed Reading with Flexible Batches & Best Faculty
New batches are going to be started soon

Key Features::

Memorise 3500 GRE Words @Memory Clips classes
Speed Reading Softwares and Techniques for Cracking GRE Reading Comprehension
Techniques to bust Anxiety, Stress and Phobias during Real GRE exam
Every week real Mock GRE Test based on real GRE Pattern
Option to take Live Online Tutoring
Our students are from NIT Kurukshetra, DCE New Delhi, IIT Roorkee, BMIET Sonepat, College of Engineering Roorkee, AIIMS, IIT Delhi, Hindu College, TCS, Wipro, Infogain, STMicroelectronics, NIT Allahabad, NIT Calicut, IIT Kharagpur, Kamla Nehru Inst. of Tech. Sultanpur, American Embassy School, IIM Kolkatta, BITS Pilani, BRCM CET, Bahal, Berhampur University, MDU Rohtak, IILM, Hamdard University, Delhi University, TITS Bhiwani, IMS many many more

Enroll Now
Call for FREE demo class at 24 hours GRE helpline: +91-9899004123 or GRE Prep Courese

Try GRE Comparison: Jagan (December 27th, 2008)
A real GRE question where students generally make mistake (December 22nd, 2008)
GRE Question of the Day: T is a set containing 8 different numbers (December 19th, 2008)
GRE Question of the Day: Permutation and Combination Comparison (November 18th, 2008)
GRE Question of The Day: Problem Solving (October 31st, 2008)

12 Answers

Read the answer left by other GRE Takers below, or:

chris
#1. October 19th, 2006, at 10:25 PM.

ans is c

arpit
#2. October 20th, 2006, at 1:17 AM.

did u get the exact answer
i got the 30% off of 5600 is 3920
thats not in the list
i hope its not torso

chris
#3. October 20th, 2006, at 7:24 AM.

@arpit u have 2 subtract 30% of cost price every time so subtract 2400 frm 5600

arpit
#4. October 20th, 2006, at 9:10 AM.

k
i thought they were asking to reduce 30% on every new price.

varun
#5. October 20th, 2006, at 12:42 PM.

it is decreased by 30% of tis purchased price so decrease by 30% that is 2400 every year so it is

c) 3200

Tania
#6. October 20th, 2006, at 7:49 PM.

what is the purchase price.. and can u show me the work out??

vandana
#7. October 20th, 2006, at 7:59 PM.

i think its B) 5600 since we have to find out MArket value after 2 years.. and market value is given for 1982.

priya
#8. October 21st, 2006, at 3:21 PM.

Praj
#9. October 20th, 2007, at 10:44 PM.

its C..
30 % decrease is 2400
and the price is asked for after 2 years…
so 8000- 2(2400)=8000 - 4800 = 3200.

nipin
#10. October 20th, 2007, at 11:51 PM.

vidya
#11. October 22nd, 2007, at 7:29 AM.

junaid
#12. November 7th, 2008, at 11:41 AM.

definitely C

Leave your answer along with reason...

If you want to leave your answer on this question, simply fill out the next form:

You can use these XHTML tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> .

GRE Blog Word Game GRE Coaching FREE Test Counseling

GRE Word of the Day TestFever LiveErator SOP Editing Toefl iBT