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# A machine can be repaired for \$1200 and will last for one year, while

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Math Expert
Joined: 02 Sep 2009
Posts: 58431
A machine can be repaired for \$1200 and will last for one year, while  [#permalink]

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24 Sep 2018, 00:25
00:00

Difficulty:

25% (medium)

Question Stats:

76% (01:06) correct 24% (01:50) wrong based on 18 sessions

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A machine can be repaired for \$1200 and will last for one year, while the new machine would cost for \$2800 and will last for two years. The average cost per year of the new machine is what percent greater than the cost of repairing the current machine ?

(A) 7%
(B) 10%
(C) 16.67%
(D) 18.83%
(E) 20%

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Joined: 31 Oct 2013
Posts: 1464
Concentration: Accounting, Finance
GPA: 3.68
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A machine can be repaired for \$1200 and will last for one year, while  [#permalink]

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24 Sep 2018, 00:53
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Bunuel wrote:
A machine can be repaired for \$1200 and will last for one year, while the new machine would cost for \$2800 and will last for two years. The average cost per year of the new machine is what percent greater than the cost of repairing the current machine ?

(A) 7%
(B) 10%
(C) 16.67%
(D) 18.83%
(E) 20%

Repairing cost = 1200

cost of the new machine = 2400

Average cost of the new machine = 2800 / 2 = 1400

Difference in price = 1400 - 1200 = 200.

% Required = 200 / 1200 = 16.67%

A machine can be repaired for \$1200 and will last for one year, while   [#permalink] 24 Sep 2018, 00:53
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