GMAT Quantitative Reasoning Practice Test 2

Question : 83 of 100

Marks: +1, -0

The average price of an antique car increases over the years. If from 1990 to 1996, the price of the car increased by 13% and from 1996 to 2001 it increased by 20%, what is the price of the car in 2001 if the price in 1990 was

\$ 11,500 ?

$\$ 15,594$
$\$ 15,322$
$\$ 14,786$
$\$ 14,543$
$\$ 12,988$

Validate

Solution:

The price in 1990 was 11,500 . In 1996 the price is

11,500 × 1.13=12,995

. The price we are looking for, in 2002 , is

12,995 × 1.2=\$ 15,594

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