This is a suggestion I've been thinking about for a while now, but never got around to posting.
Solution 1
Instead of a one time cost of buying a set of arrows, and using that quiver of arrows for as many rounds as you want, arrows would be used up by shooting. Instead of having a random chance of arrows breaking with a fixed repair cost, the upkeep for arrows would depend on how many arrows an archer uses up.
For example, instead of spending 5058g to buy a quiver of bodkin arrows, archers would instead buy bodkin arrows for... let's say 5g each*. Instead of buying a set of bodkin arrows, an archer would for example, buy 1000 arrows for 5000g. The number of arrows he uses up from his quiver each round would be deducted from his total number of arrows, and instead of paying a one time repair bill when arrows break, he would simply buy more arrows once he's used them up.
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Solution 2
Another method for implementing this would be instead of having archers buy arrows beforehand at fixed prices, repair costs would depend on number of arrows shot, and the game mode the player is playing.
For example, in siege, archers would use up more arrows than in battle, so having fixed arrow prices might not be balanced in this case. In DTV an archer almost always uses up his entire quiver, so individual arrow costs should not apply in this case. In duel servers there should be free arrows.
The game modes should all be carefully balanced.
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Adding this change would greatly increase the skill required for archery, as it would make arrow repair cost skill based instead of luck based - the upkeep for archery would depend on an archer's ability to do the most amount of damage with the least amount of arrows.
This would also reduce the amount of ranged teamhits, as archers would be forced to choose their shots carefully instead of wasting them by shooting blindly into melee.
Another thing to keep in mind: Ever since the last patch, smaller faster bows are much more powerful than slower bows due to being able to headshot easier. This change would balance slower bows with faster bows.
There would be more incentive to use the slower bow due to higher damage per arrow ratio, and thus lower repair costs. It would also remove incentive for the overused hornbow, because archers would be punished if they want to spam bodkins with a fast bow.
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* Arbitrary number used for example.
Note: Archery was used only as an example in this suggestion. This change could apply to all ranged weapons.