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

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A store reported total sales of $385 million for February of [#permalink]

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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%
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Re: A store reported total sales of $385 million for February of [#permalink]

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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%


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.

Answer: C.

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

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

Answer: C.
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Re: A store reported total sales of $385 million for February of [#permalink]

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New post 15 Dec 2012, 02:45
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?

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Re: A store reported total sales of $385 million for February of [#permalink]

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New post 15 Dec 2012, 05:14
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Shadow88 wrote:
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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Re: A store reported total sales of $385 million for February of [#permalink]

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New post 11 Sep 2014, 07:09
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%




last year= 320
this year = 385

((385-320)/320)*100 = (65/320 )*100 approx.. 20

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Re: A store reported total sales of $385 million for February of [#permalink]

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New post 24 Sep 2014, 19:31
Increase = 385 - 320 = 65

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

Answer = C
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Re: A store reported total sales of $385 million for February of [#permalink]

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Re: A store reported total sales of $385 million for February of [#permalink]

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New post 21 Oct 2015, 03:28
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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%


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]

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New post 07 Jun 2016, 11:09
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.
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Re: A store reported total sales of $385 million for February of [#permalink]

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New post 22 Sep 2017, 12:19
Hello from the GMAT Club BumpBot!

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Re: A store reported total sales of $385 million for February of   [#permalink] 22 Sep 2017, 12:19
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