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Updated on: 13 Sep 2015, 10:01
1
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Difficulty:

5% (low)

Question Stats:

84% (01:01) correct 16% (01:07) wrong based on 111 sessions

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A certain pair of used shoes can be repaired for $12.50 and will last for 1 year. A pair of the same kind of shoes can be purchased new for$28.00 and will last for 2 years. The average cost per year of the new shoes is what percent greater than the cost of repairing the used shoes?

A 3%
B 5%
C 12 %
D 15%
E 24%

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Originally posted by harishbiyani8888 on 13 Sep 2015, 10:00.
Last edited by Bunuel on 13 Sep 2015, 10:01, edited 1 time in total.
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13 Sep 2015, 19:57
1) Cost of repairing = 12.5 ( for one year ), Therefore for 2 years it would be $25. 2) Cost of new pair which will last for 2 years is$ 28.

Percentage change formula = ( Final value - Initial value ) / ( Initial Value ) * 100. In this case the final value would be the price of new shoe & initial value would be the cost of repairing the old shoe.

I.e ( 28 - 25 ) / ( 25 ) * 100 = 12 %.

Ans is C.
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Re: A certain pair of used shoes can be repaired for $12.50 and will last [#permalink] ### Show Tags 15 Jan 2018, 10:58 harishbiyani8888 wrote: A certain pair of used shoes can be repaired for$12.50 and will last for 1 year. A pair of the same kind of shoes can be purchased new for $28.00 and will last for 2 years. The average cost per year of the new shoes is what percent greater than the cost of repairing the used shoes? A 3% B 5% C 12 % D 15% E 24% Average cost of New shoes is 14 Average Cost of repairing old shoes is 12.50 So, The average cost per year of the new shoes is what percent greater than the cost of repairing the used shoes is $$\frac{(14 - 12.50)}{14}*100$$ = 12% , answer will be (C) _________________ Thanks and Regards Abhishek.... PLEASE FOLLOW THE RULES FOR POSTING IN QA AND VA FORUM AND USE SEARCH FUNCTION BEFORE POSTING NEW QUESTIONS How to use Search Function in GMAT Club | Rules for Posting in QA forum | Writing Mathematical Formulas |Rules for Posting in VA forum | Request Expert's Reply ( VA Forum Only ) Re: A certain pair of used shoes can be repaired for$12.50 and will last &nbs [#permalink] 15 Jan 2018, 10:58
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