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PS - percentage problem help

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PS - percentage problem help

by madsport » Mon Sep 08, 2008 12:28 pm
A certain pair of used shoes can be repaired for $12.50 and will last for 1 year. A pair of the same kind of shoes can be purchased new for $28.00 and will last for 2 years. The average cost per year of the new shoes is what percent greater than the cost of repairing the used shoes?

The answer is C
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by schumi_gmat » Mon Sep 08, 2008 12:43 pm
The avg cost per year = $14

difference = $1.5

% increase =( 1.5/12.5 ) * 100 = 12%
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