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Bicycle

by gmatblood » Sun Nov 06, 2011 3:54 pm
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) ll4%
(E) l70%

IMO: 170
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by GmatMathPro » Sun Nov 06, 2011 4:12 pm
She can trade in the bicycle and buy the new one for 85, or get it repaired for 50. 85 is 70% greater than 50. Make sure you pay attention to the difference between the following statements: 85 is 70% greater than 50. 85 is 170% of50. The question is "what percent greater than", so the correct answer is [spoiler]C. 70%[/spoiler]
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by neelgandham » Sun Nov 06, 2011 4:49 pm
Cost of Repair = $50
Cost of new cycle, if the older one is returned = 107-22 = $85

Question : cost to her of purchasing the new bicycle is what percent greater than the cost of having her current bicycle repaired? Which is equal to (($85-$50)/$50*100 = [spoiler]70%[/spoiler]

IMO C
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