A screwdriver and a hammer currently have the same price. If the price

Question

A screwdriver and a hammer currently have the same price. If the price of a screwdriver rises by 5% and the price of a hammer goes up by 3%, how much more will it cost to buy 3 screwdrivers and 3 hammers?

A. 3%
B. 4%
C. 5%
D. 8%
E. 24%

A. 3% 
B. 4% 
C. 5% 
D. 8% 
E. 24%

quantumliner · Answer

Price of screwdriver : 100x
Price of hammer : 100x

Cost of 3 screwdrivers and 3 hammers before price rise : 600x

Price of screwdriver after 5% rise : 105x
Price of hammer after 3% rise : 103x

Cost of 3 screwdrivers and 3 hammers after price rise : 315x + 309x = 624x

Price difference = 624x-600x = 24x

how much more will it cost to buy 3 screwdrivers and 3 hammers = 24*100/600 = 4%

Answer is B

amanvermagmat · Answer

Let a screwdriver and a hammer each cost 100. 
Cost of 3 screwdrivers and 3 hammers = 3*100 + 3*100 = 600

New prices of a screwdriver and a hammer are 105 and 103 respectively. 
So new cost = 3*105 + 3*103 = 624

Thus required percentage increase = (624-600)/600 * 100 = 24/600 * 100 = 4%

Hence  answer is B

pushpitkc · Answer

Since the screwdriver and hammer have the same price(assuming it to be 100$ per item), 
an increase of 5% and 3% will result in an overall increase of 4%
because (3+5)/2 = 4

The number of screw drivers and hammers will have no impact on the outcome of overall increase/decrease (Option B)

tonybento · Answer

Using percentage multiplier:

Before cost increase:
Let cost of S & H be x.
So, cost of 3S and 3H = 6x

After cost increase:
Cost of S after 5% inc. = 1.05x
Cost of H after 3% inc. = 1.03x
So, cost of 3S and 3H = (1.05x * 3) + (1.03x * 3)
= 3x ( 1.05 + 1.03)
= 3x (2.08)
= 6x (1.04)

Now, considering 6x is cost before increase, 1.04 becomes the percentage increase multiplier.
 So, % increase= 4%

amanvermagmat · Answer

Hi - I want to add on one thing here.

Some people are saying that number of screwdrivers and hammers don't matter here, answer is gonna be 4% only. I disagree please.

Well,  if number of screwdrivers is NOT equal to the number of hammers, then the answer is NOT going to be 4% . Answer will then be closer to the % of whichever has higher number (think weighted average). Eg - if there are 2 screwdrivers and 1 hammer, then the percentage increase will be: (2*5% + 1*3%)/(2+1) = 13/3 % or 4 1/3%

However,  if the number of screwdrivers and hammers is equal, then the answer is going to be 4% . Eg - in our given question.

GovindAgrawal077 · Answer

Let the price of screwdriver and hammer be x. Therefore, new price of screwdriver = 1.05x and new price of hammer = 1.03x. Now total price of 3 hammer and screwdriver = 6.24x (1.03x *3 + 1.05x *3). Therefore, increase in price= 6x- 6.24x= 0.24x. So, percentage change= 0.24\6*100 = 4%
Therefore, answer is B.

Abhishek009 · Answer

Let Original Price of 1 Screwdriver = 1 Hammer = 100

Cost of 3 Screwdrivers and 3 Hammers = 300 + 300 = 600

Increased Price of 1 Screwdriver = 105 & Increased Price of 1 Hammer = 103

So, Cost of 3 Screwdrivers and 3 Hammers = 315 + 309 = 624

= \frac{624 - 600}{600}*100

= \frac{24}{6} %

= 4 %

Thus, answer must be (B) 4%

ScottTargetTestPrep · Answer

We can let the original price of a screwdriver and hammer = n. Thus, the new price of a screwdriver is 1.05n and the new price of a hammer is 1.03n.
 
The original price of 3 screwdrivers and 3 hammers is 6n and the new price of 3 screwdrivers and 3 hammers is:
 
3(1.05n) + 3(1.03n) = 3.15n + 3.09n = 6.24n.
 
Thus, the percentage increase is:
 
(6.24n - 6n)/6n x 100
 
0.24n/n6 x 100 = 4%
 
Answer: B

Anshusam1996 · Answer

Let S= Screwdriver, H= Hammer.
assume Price of H and S = 100 each

Now if raise is 3% and 5% respectively then cost would be, 103 and 105 Respectively

Purchasing 3H and 3S at previous cost= 3(100) + 3(100) = 600
Purchasing 3H and 3S at new cost= 3(103) + 3(105) = 624

% raise = ((624-600)/600)*100=(24/6)=4%

Hence ans is (B)

Abhishek009 · Answer

Let Original price be -

Screwdriver = Hammer = 100

Cost of 3 screwdrivers and 3 hammers will be 600

Increased price will be -

Screwdriver = 105
Hammer = 103

Cost of 3 screwdrivers and 3 hammers will be 3*105 + 3*103 = 315 + 309 => 624

Percentage Increase is 24/600*100 = 4%

Thus, correct answer will be (B) 4%

tanzzt · Answer

Even though I chose B as the answer, I calculated the percentage increase was a little bit less than 4.
Below is the detail of my calculation :
Screwdriver's Price = 100 increase 5% = 105
Hammer's Price = 200 increase 3% = 206
----------------------------------------------------
3 Screwdriver's Price = 300 increase 5% = 315
3 Hammer's Price = 600 increase 3% = 618
-----------------------------------------------------
Total 900 933

So the percentage increase is (33 / 900) * 100% = 3.667 %

Please let me know if there was a miscalculation.

bumpbot · Answer

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A screwdriver and a hammer currently have the same price. If the price

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