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%
Given:
1. A certain pair of used shoes can be repaired for $12.50 and will last for 1 year.
2. A pair of the same kind of shoes can be purchased new for $28.00 and will last for 2 years.
Asked: The average cost per year of the new shoes is what percent greater than the cost of repairing the used shoes?
Average cost per year of the new shoes = 28/2 = $14
Average cost per year of the repaired shoes = $12.5
The average cost per year of the new shoes is what percent greater than the cost of repairing the used shoes = 14/12.5 -1 = 1.5/12.5 = (150/12.5) % = 12%
IMO C
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