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07 Dec 2012, 04:35
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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%

Last year's sales = $320 million; This year's sales =$385 million;
Increase = $65 million. Now, 20% of$320 million is $64 million, which is very close to actual increase of$65 million.

OR:
General formula for percent increase or decrease, or percent change:

$$Percent=\frac{Change}{Original}*100$$ --> $$Percent=\frac{65}{320}*100=\frac{13}{64}*100\approx{\frac{13}{65}}*100=20%$$.

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15 Dec 2012, 04:14
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This might sound stupid, but how do we know that we need to round up 64 to 65 without losing to much time. I did this question before and it took over 2 min before i knew that i had to round 64 to 65 in order to solve the problem. Do you have any trick in mind?

65 is the closest multiple of 13: 5*13=65.
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24 Sep 2014, 18:31
Increase = 385 - 320 = 65

% Increase $$= \frac{65}{320} * 100 = 20%$$

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21 Oct 2015, 02:28
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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%

Percentage increase = $$\frac{(Final - Original)}{Original}*100$$

Substituting the values here

$$\frac{(385 - 320)}{320}$$* 100 = (65/320)*100 = 20% approx
Option C
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Re: A store reported total sales of $385 million for February of [#permalink] ### Show Tags 07 Jun 2016, 10:09 Walkabout 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% The problem is testing us on using the percent change formula: (New Value – Old Value)/Old Value x 100 We are given: February sales this year = 385 million February sales last year = 320 million We need to determine the percent increase between sales from last year to sales this year. Thus, the new value = 385 million and the old value = 320 million. Let’s plug them into our percent change formula. (New Value – Old Value)/Old Value x 100 [(385 – 320)/320] x 100 65/320 x 100 13/64 x 100 ≈ 13/65 x 100 ≈ 1/5 x 100 ≈ 20%. The answer is C. _________________ Jeffrey Miller Jeffrey Miller Head of GMAT Instruction Re: A store reported total sales of$385 million for February of   [#permalink] 07 Jun 2016, 10:09
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