onedayill wrote:
Car Dealership X, the total profit from sales increased by 10 percent over the previous years, while the number of cars sold decreased by 10 percent over the previous years. Approximately what was the average percent increase in profit per car over the previous year.
18%
20%
22%
23%
25%
Let Profit be x and cars sold be y
Originally Profit/Car = x/y
Now it is 1.1x / 0.9 y = 11/9 (x/y)
Increase in profit per car = ((2/9) (x/y)) / (x/y) * 100 = 22.22%
Answer = C
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