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payments - algebra (m08q17)

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Director
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Status: Final Countdown
Joined: 17 Mar 2010
Posts: 564
Location: India
GPA: 3.82
WE: Account Management (Retail Banking)
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Kudos [?]: 144 [0], given: 75

Re: [#permalink] New post 22 Aug 2012, 07:59
eschn3am wrote:
You're comparing overall costs, not just monthly payments. So...

216+43.2 = 259.2
345.6+21.6 = 367.2
367.2-259.2=108
108/367.2 = 30%

it's 30% cheaper to do it the first way.



108/367.2

why not

108/259.2?

please help !!!
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Intern
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Joined: 24 May 2012
Posts: 13
Location: India
WE: Engineering (Energy and Utilities)
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Kudos [?]: 5 [0], given: 4

Re: algebra [#permalink] New post 22 Aug 2012, 08:37
shrive555 wrote:
Can someone please explain, how to calculate cost of schemes i.e 120 & 170. :roll:


1st option: 20 % + 10 times 10% = 20% + 100% =120%
2nd option: 10%+ 20 times 8% = 10% + 160% = 170%

hope u got it!! :)
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Re: payments - algebra (m08q17) [#permalink] New post 29 Aug 2012, 23:04
Found this one particularly difficult. I approximated 216 as 220 but the 8% part made it really tricky. I ended up wildly guessing the answer choice wrong.

The approach explained above wrt ignoring 216 all together and taking the base as 100 was particularly great.
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Re: payments - algebra (m08q17) [#permalink] New post 09 Aug 2014, 01:23
first scheme cost = 216/5 +216 = 6/5(216)
second scheme cost = 216/10 +216 X8 /100 x20 =17/10 (216) = 8.5/5 (216)

so now if the first scheme cost 6/5 then second cost 8.5/5
so diff is 2.5/5 so the % difference is 2.5/8.5X100= 29.9 ~30% hence C
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Re: payments - algebra (m08q17)   [#permalink] 09 Aug 2014, 01:23
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