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screwdriver and hammer

Problem Solving — algebra and arithmetic (GMAT Focus Edition)
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screwdriver and hammer

by sanju09 » Thu Mar 22, 2012 12:33 am
A screwdriver and hammer currently have the same price. If the price of the screwdriver rises by 5% and the hammer rises by 3% how much more will it cost to buy 3 screwdrivers and 3 hammers.
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by sam2304 » Thu Mar 22, 2012 1:05 am
4% increase in total cost.

SD = 100
H = 100

3 SD + 3 H = 600

After increase

SD = 105
H = 103

3 SD + 3 H = 624

% increase = (624 - 600)/600 * 100 = 4 %
Last edited by sam2304 on Thu Mar 22, 2012 1:32 am, edited 1 time in total.
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by sanju09 » Thu Mar 22, 2012 1:27 am
sam2304 wrote:4% increase in total cost.

SD = 100
H = 100

3 SD + 3 H = 600

After increase

SD = 105
H = 103

3 SD = 3 H = 624

% increase = (624 - 600)/600 * 100 = 4 %
good approach, just a little correction needed
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by ITman10 » Thu Mar 22, 2012 10:52 am
"A screwdriver and hammer currently have the same price. If the price of the screwdriver rises by 5% and the hammer rises by 3% how much more will it cost to buy 3 screwdrivers and 3 hammers."

This is what I did:

Currently: SD = H
SD = $100
H = $100

Total Current Price = SD(3) + H(3)
Total Current Price = $300 + $300
Total Current Price = $600

If prices rise to respectable percentages:
Price of SD = SD + SD(.05) ----> SD = $105
Price of H = H + H(.03) ----> H = $103

Now:
SD = $105
H = $103

New Total Price = SD(3) + H(3)
New Total Price = 105(3) + 103(3)
New Total Price = $624

Percentage increase = (New Total Price - Current Total Price) / Current Total Price
Percentage increase = 24 / 600
Percentage increase = 0.04*100
Percentage increase = 4%

It will cost $24 more or 4% more.

**EDIT: Whoops...I totally didn't see the post above mine...sorry about that!**

Let me know if I missed anything

Kind Regards,

Joe B.
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