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Updated on: 13 Sep 2015, 10:01
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15% (low)

Question Stats:

81% (01:30) correct 19% (01:49) wrong based on 172 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
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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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15 Sep 2019, 03:16
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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Re: A certain pair of used shoes can be repaired for $12.50 and will last [#permalink] Show Tags 15 Sep 2019, 04:53 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 $28.00 and will last for 2 years. The average cost per year of the new shoes is what percent greater than the cost of repairing the used shoes? A 3% B 5% C 12 % D 15% E 24% Cost of repairing for 2 years is 25$
Cost for new shoes is 28$Cost of new shoes is greater than cost of repairing = 3/25 *100% = 12% C is correct Re: A certain pair of used shoes can be repaired for$12.50 and will last   [#permalink] 15 Sep 2019, 04:53
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