Ann can have her bicycle repaired for $50, or she can trade it in, as is, and receive $22 credit toward the purchase of a new bicycle that sells for $107. If Ann trades in her current bicycle, the cost to her of purchasing the new bicycle is what percent greater than the cost of having her current bicycle repaired?
(A) 44%
(B) 60%
(C) 70%
(D) 114%
(E) 170%
OA is C.
I also checked C. But isn't the true 'cost' 107 instead of 85? She is giving up her old bicycle which probably costs 22$ in the market today. From a finance point of view, the true cost to Ann must be 107 and the answer should be [spoiler]114% i.e. D[/spoiler]
Correct me if I am wrong.
(A) 44%
(B) 60%
(C) 70%
(D) 114%
(E) 170%
OA is C.
I also checked C. But isn't the true 'cost' 107 instead of 85? She is giving up her old bicycle which probably costs 22$ in the market today. From a finance point of view, the true cost to Ann must be 107 and the answer should be [spoiler]114% i.e. D[/spoiler]
Correct me if I am wrong.
Thanks,
Bharat.
Bharat.
)
