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Register now and save up to $200 Available with Beat the GMAT members only code ## help! This topic has 3 member replies cooljam250 Newbie | Next Rank: 10 Posts Joined 16 Sep 2006 Posted: 7 messages #### help! Thu Jan 04, 2007 9:06 am hey guys, does anyone know how to solve these two questions? 1. The price of a left-handed widget increased 20% in 1981 and 10% in 1982. By approximately what percent would the price at the end of 1982 have to be decreased to restore the price of the widget to its pre-1981 price? a) 40% b)35% c)30% d)26% e)24% 2. Particia invested a sum of money at an annual simple interest rate of 10 1/2% (10 and a half percent). AT the end of 4 years the amount invested plus interest earned was$781.00. What was the dollar amount of the original investment?

a)$231.84 b)$318.16
c)$550.00 d)$750.00
e)$781.84 ANS #1 = 24% ANS #2=$550.00

Thank you!

cooljam250 Newbie | Next Rank: 10 Posts
Joined
16 Sep 2006
Posted:
7 messages
Fri Jan 05, 2007 5:23 pm
thanks guys, i understand it now

thankont Senior | Next Rank: 100 Posts
Joined
15 Dec 2006
Posted:
41 messages
Followed by:
1 members
Fri Jan 05, 2007 12:46 am
careful here because they want simple interest and not compound
original amount -->x
simple interest after 4 yrs. -->4x(0.105) = 0.42x
so we have after 4 yrs. --> 1.42x = 781 => x = 550

maxim730 Senior | Next Rank: 100 Posts
Joined
26 Dec 2006
Posted:
76 messages
Followed by:
2 members
Thu Jan 04, 2007 1:23 pm
1) I just used a #

x = 100

1981 = 1.2(x) = 1.2(100) = $120 1982 = 1.1(1.2x) = 1.1(120) =$132

Pre 1981 price, i.e. to x = (132-100) / (132) = .24 = 24%

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