BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem
TTP OnDemand GMAT Video Course
Featured Course

Target Test Prep GMAT OnDemand

Scott Woodbury-Stewart’s private virtual classroom — 400 hours of master-class video lessons for the GMAT Focus Edition.

  • 715+ score guarantee — highest in the industry (99th percentile)
  • 52 chapters · 1,500+ lessons · 4,000+ practice questions
  • 400 hours of video · 1,500+ instructor-led HD smartboard lessons
  • 300,000+ students accepted to Harvard, Stanford, Wharton, Booth & Sloan & more
  • 24/7 live support + weekly Zoom office hours with GMAT instructors
  • TTP AI Assist — 24/7 AI-powered virtual tutor for instant help
  • 1,200+ flashcards + AI-powered study assistant & daily calendar
  • OnDemand, LiveTeach & GMAT Bootcamp formats available
  • Also: GRE, SAT Math & Executive Assessment courses
  • MBA Admissions Consulting now available
  • 🏆 2025 EdTech Breakthrough Award: Test Prep Solution Provider of the Year
  • 200,000+ students served
  • 5-day free trial — $0 to start, no auto-billing, cancel anytime
★★★★★ 5.0 (559 reviews)
130-pt guarantee
$0 to start then $127/mo
Start Free 5-Day Trial Read 559 Reviews →

In 1991, the price of a house was 80% of its original price.

Expert replies
Post new topic Post Reply
Previous Topic Next Topic
Moderator
Posts: 7187
Joined: Thu Sep 07, 2017 4:43 pmFollowed by: 23 members
by BTGmoderatorDC » Sat Dec 15, 2018 5:04 pm

Timer

00:00

Answers

A

B

C

D

E

Stats

Difficulty—

In 1991, the price of a house was 80% of its original price. In 1992, the price of the house was 60% of its original price. By what percent did the price of the house decrease from 1991 to 1992 ?

A. 20%
B. 25%
C. 33 1/3%
D. 40%
E. 60%

OA B

Source: Princeton Review
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Source: — Problem Solving |

GMAT/MBA Expert

User avatar
Elite Legendary Member
Posts: 10392
Joined: Sun Jun 23, 2013 6:38 pmFollowed by: 511 members
Location: Palo Alto, CA
Thanked: 2867 times
GMAT Score:800

by [email protected] » Sat Dec 15, 2018 5:14 pm
Hi All,

We're told that in 1991, the price of a house was 80% of its original price and in 1992, the price of the house was 60% of its original price. We're asked by what percent the price of the house decreased from 1991 to 1992. This question can be solved in a couple of different ways, including by TESTing VALUES.

IF... the starting price = $100
Price in 1991 = (.8)($100) = $80
Price in 1992 = (.6)($100) = $60

Percent change in price from 1991 to 1992 = (60 - 80)/80 = -20/80 = -1/4 = -25% = a 25% decrease

Final Answer: B

GMAT assassins aren't born, they're made,
Rich
Contact Rich at [email protected]
Image
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 8152
Joined: Sat Apr 25, 2015 10:56 amFollowed by: 29 members
Location: Los Angeles, CA
Thanked: 43 times

by Scott@TargetTestPrep » Thu Mar 14, 2019 3:58 pm
BTGmoderatorDC wrote:In 1991, the price of a house was 80% of its original price. In 1992, the price of the house was 60% of its original price. By what percent did the price of the house decrease from 1991 to 1992 ?

A. 20%
B. 25%
C. 33 1/3%
D. 40%
E. 60%

OA B

Source: Princeton Review
If the original price is n, then in 1991 the price is 0.8n and in 1992 the price is 0.6n. The percent change is:

(0.6n - 0.8n)/0.8n x 100 = -2/8 x 100 = -25% (i.e., a 25% decrease)

Answer: B

Scott Woodbury-Stewart
Founder and CEO
[email protected]

Image

See why Target Test Prep is rated 5 out of 5 stars on BEAT the GMAT. Read our reviews

ImageImage
Top
Join the discussion
Log in to postLogin with Googleuse password
QUOTE IN REPLY
Post new topic Post Reply
• Page 1 of 1