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A store reported (OG2016)

This topic has 2 expert replies and 0 member replies
boomgoesthegmat Senior | Next Rank: 100 Posts Default Avatar
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A store reported (OG2016)

Post Fri May 06, 2016 12:35 pm
Elapsed Time: 00:00
  • Lap #[LAPCOUNT] ([LAPTIME])
    A store reported total sales of $385 million for February of this year. If the total sales for the same month last year was $320 million, approximately what was the percent increase in sales?

    A) 2%
    B) 17%
    C) 20%
    D) 65%
    E) 83%

    OA: C

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    Post Sat May 07, 2016 6:48 am
    boomgoesthegmat wrote:
    A store reported total sales of $385 million for February of this year. If the total sales for the same month last year was $320 million, approximately what was the percent increase in sales?

    A) 2%
    B) 17%
    C) 20%
    D) 65%
    E) 83%
    Percent increase = 100(new - old)/old
    So: Percent increase = 100(385 - 320)/(320)
    = 100(65)/320
    = 6500/320
    = 650/32
    ≈ 20%
    Answer: C

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    - Percent increases and decreases: https://www.gmatprepnow.com/module/gmat-arithmetic/video/1078

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    Brent

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    Post Thu May 12, 2016 12:39 am
    % change = 100 * (New - Old)/Old

    = 100 * (385 - 320)/320

    = 100 * 65/320

    = 6500/320

    ≈ 6400 / 320

    ≈ 20

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