Ann can have her bicycle repaired for $50, or she can trade

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BTGmoderatorDC: Moderator; Posts: 7187; Joined: Thu Sep 07, 2017 4:43 pm; Followed by:23 members

Ann can have her bicycle repaired for $50, or she can trade

by BTGmoderatorDC » Sun Oct 07, 2018 5:54 pm

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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 C

Source: Gmat Prep

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Source: Beat The GMAT — Problem Solving | Sun Oct 07, 2018 5:54 pm

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Jay@ManhattanReview: GMAT Instructor; Posts: 3008; Joined: Mon Aug 22, 2016 6:19 am; Location: Grand Central / New York; Thanked: 470 times; Followed by:34 members

by Jay@ManhattanReview » Wed Oct 10, 2018 1:07 am

BTGmoderatorDC wrote: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 C

Source: Gmat Prep

Cost of repair = $50;
Cost of new bicycle - Credit for old bicycle = 107 - 22 = $85

Excess amount paid to get bicycle = 85 - 50 = 35

The cost to her of purchasing the new bicycle is (35/50)*100% = 70% greater than the cost of having her current bicycle repaired.

The correct answer: C

Hope this helps!

-Jay
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Scott@TargetTestPrep: GMAT Instructor; Posts: 8084; Joined: Sat Apr 25, 2015 10:56 am; Location: Los Angeles, CA; Thanked: 43 times; Followed by:29 members

by Scott@TargetTestPrep » Wed Oct 10, 2018 5:50 pm

BTGmoderatorDC wrote: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%

The cost of the new bicycle is 85 dollars after she trades in her current bicycle. So we need to determine 85 is what percent greater than 50:

(85 - 50)/50 * 100 = 35/50 * 100 = 70 percent

Answer: C

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