Question

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?

Answer 1

Answer:

12 %

Step-by-step explanation:

1) Cost of repairing = 12.5 ( for one year ), Therefore for 2 years it would be $ 25.

2) Cost of new pair which will last for 2 years is $ 28.

Percentage change formula = ( Final value - Initial value ) / ( Initial Value ) * 100. In this case the final value would be the price of new shoe & initial value would be the cost of repairing the old shoe.

I.e ( 28 - 25 ) / ( 25 ) * 100 = 12 %.

Ans is 12%