Jeff Miller

GMAT OFFICIAL GUIDE PS – A store reported total sales of $385 million for February…

A store reported total sales of $385 million for February…

Solution:

The formula for percent increase is (New – Old)/Old x 100%. Here the “New” sales is $385 million and the “Old” sales is $320 million. Since both numbers are in millions of dollars, we can reduce each number to 385 and 320. So the percent increase is:

(385 – 320)/320 x 100%

65/320 x 100%

If we approximate 65 as 64, we have

64/320 x 100%

1/5 x 100%

20%

So the approximate percent increase in sales is 20%.

Answer: C

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