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...

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GMAT Paper Tests

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?

A 3%
B 5%
C 12 %
D 15%
E 24%

OA C

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GMAT Paper Tests

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?

A 3%
B 5%
C 12 %
D 15%
E 24%

OA C

Solution:

The average cost per year of the new shoes is 28/2 = $14, so it’s:

(14 - 12.5) / 12.5 = 1.5/12.5 = 12/100 = 12% greater than the cost of repairing the used shoes.

Answer: C