advice needed

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likewhoa: Senior | Next Rank: 100 Posts; Posts: 49; Joined: Sun Aug 12, 2007 8:17 pm

by likewhoa » Sun Nov 18, 2007 7:40 am

In 1994-> annual salary was 30% higher than it was in 1993.
1995-> annual salary was reduced to 104 % of his 1993 annual salary.
Ken's 1995 annual salary was what % less than his 1994 annual salary?

answer: 20%

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Source: Beat The GMAT — Problem Solving | Sun Nov 18, 2007 7:40 am

ri2007: Master | Next Rank: 500 Posts; Posts: 258; Joined: Mon Aug 27, 2007 12:43 pm; Thanked: 15 times

by ri2007 » Sun Nov 18, 2007 8:01 am

assume salary in 93 = 100
so in 94 = 130
in 95 = 104

difference in 95 vs 94 = 26
% decrease = ( 26/130 ) * 100 = 20%

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