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The acceptance rate at a certain business school is 15% for first-time applicants and 20% for all re-applicants. If David is applying for admission for the first time this year and will attend if he is accepted, what is the probability that he will have to apply no more than twice before he is accepted?
A) 20%
B) 30%
C) 32%
D) 35%
E) 40%
Answer: C
Source: Veritas Prep
A) 20%
B) 30%
C) 32%
D) 35%
E) 40%
Answer: C
Source: Veritas Prep
