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pierce22884
- Junior | Next Rank: 30 Posts
- Posts: 13
- Joined: Sun Sep 07, 2008 4:34 pm
- Location: Dallas, TX
The price of a microchip declines by 67 percent every 6 months. At this rate, approximately how many years will it take for the price of an $81 microchip to reach $1?
A. 1.5 years
B. 2 years
C. 3 years
D. 13 years
E. 13.5 years
OA:
B) After 6 months, the $81 chip is reduced in price by about 2/3 (a good fractional approximation of 67%). Since reducing something by 2/3 is the same as multiplying by 1/3, multiply $81 by 1/3 to get $27. After 12 months (1 year), the $27 chip goes down in price to $9. After 18 months (1.5 years), the price goes down to $3, and after 24 months (2 years) the price goes down to about $1. The answer is (B), two years.Note: The question asks approximately how many years, so you can safely round 67% to 2/3 for this problem.
Is there any way to solve this problem faster than what is recommended? Can you set this up in a R x T=W scenario?
Thanks!
A. 1.5 years
B. 2 years
C. 3 years
D. 13 years
E. 13.5 years
OA:
B) After 6 months, the $81 chip is reduced in price by about 2/3 (a good fractional approximation of 67%). Since reducing something by 2/3 is the same as multiplying by 1/3, multiply $81 by 1/3 to get $27. After 12 months (1 year), the $27 chip goes down in price to $9. After 18 months (1.5 years), the price goes down to $3, and after 24 months (2 years) the price goes down to about $1. The answer is (B), two years.Note: The question asks approximately how many years, so you can safely round 67% to 2/3 for this problem.
Is there any way to solve this problem faster than what is recommended? Can you set this up in a R x T=W scenario?
Thanks!
