The price of crude oil which has slumped by 50% in the last 12 months, is projected to increased by 20% in the next 1 month bringing its value to $56. What was the approximate price of crude oil 12 months ago? Choose the correct answer
A) 93	B) 235	C) 112	D) 126	E) 59
-50+20-(50*20)/100=-40% net decrease   let initial price be Y   Y(1-40/100)=56   Y=56/0.6 = ~93   93ns is 93)
<result>A</result>
The price of crude oil which has slumped by 50% in the last 12 months, is projected to increased by 20% in the next 1 month bringing its value to $56. What was the approximate price of crude oil 12 months ago?