check my math

I need to buy tires on wednesday. The cost of my tires are going to be 280.00

I am getting a discount of 234.00

I am getting a discount because the old tires did not last as long as they should have so I am getting a discount based on the amount the tire company figures I didn't get to use the old tires.

I paid 500 dollars for the old tires. So I figured that if I take

old price of 500.00 -
the discount of 230.00 for non use, that equals

270.00

So then I took 270.00 / 500 = 0.54

so that means that I am geting 54% of the value of the old tires returned to me. is that right?

1) Make up your mind. Is the discount $230, $234, or $270?

2) Once you decide what the discount is, divide that by $500. Why would you switch to something that is not the discount?

Quote:

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Originally Posted by jamieY

I need to buy tires on wednesday. The cost of my tires are going to be 280.00
I am getting a discount of 234.00
I am getting a discount because the old tires did not last as long as they should have so I am getting a discount based on the amount the tire company figures I didn't get to use the old tires.
I paid 500 dollars for the old tires. So I figured that if I take
old price of 500.00 -
the discount of 230.00 for non use, that equals
270.00
So then I took 270.00 / 500 = 0.54
so that means that I am geting 54% of the value of the old tires returned to me. is that right?

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You paid $500 for tires that the company said would last for 50thousand miles (or some other distance, 50000 comes out to a penny per mile).
If you are getting $230 back that means you drove 27000 miles instead of the 50k you planned.
You used 54% of the tires. You did not receive the remaining 46% of the value for the expected use of the tires.
The company is returning 46% of the cost back to you. (Truthfully, they aren't returning it, they are forcing you to to purchase another sets of tires that is said to last for 50k miles -- which might.)

Your numbers are ok, it's the interpretation that needs understanding.

I think I get it. So you are saying that I used 54% but I am only getting 46% of the value. Is that right?