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Test CODE - 52; Section 1 ; Question 8

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Test CODE - 52; Section 1 ; Question 8

by irfan_m1973 » Tue Dec 01, 2009 1:12 am
In 1982 and 1983, Company B's operating expenses were $12.0 million and $14.0 million, respectively, and its revenues were $15.6 million and $18.8 million, respectively. What was the percent increase in Company B's Profit (revenues minus operating expenses) from 1982 to 1983?

(A) 3%

(B)16 2/3%

(C) 25%

(D) 33 1/3%

(E) 60%
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by papgust » Tue Dec 01, 2009 1:17 am
Expenses = 12 million (1982), 14 million (1983)
Revenue = 15.6 million (1982), 18.8 million (1983)
Profit = 3.6 million (1982), 4.8 million (1983)

%increase = (4.8-3.6)/3.6 = 1/3 = 33 1/3%

Answer: D
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