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12 Nov 2015, 02:15
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Question Stats:

97% (01:00) correct 3% (00:58) wrong based on 86 sessions

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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%
[Reveal] Spoiler: OA

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12 Nov 2015, 02:36
Profit in 1982 = 15.6 - 12 = 3.6 million $Profit in 1983 = 18.8 - 14 = 4.8 million$

Percentage increase in profit = (4.8-3.6)/3.6 * 100 %
= 33.33 %

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13 May 2016, 04:38
Profit = Revenue - operating expenses
Profit in 1982 = Revenue in 1982 - operating expenses in 1982
= $15.6 million -$12 million
= $3.6 million Profit in 1983 = Revenue in 1983 - operating expenses in 1983 =$18.8 million - $14 million =$4.8 million
Percentage increase in company B's profit from 1982 to 1983 = $$\frac{(4.8-3.6)}{3.6}$$ * 100 = $$\frac{1.2}{3.6}$$ * 100 = 33 $$\frac{1}{3}$$ %
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Re: In 1982 and 1983, Company B’s operating expenses were $12.0 million an [#permalink] ### Show Tags 10 Apr 2018, 17:22 Bunuel wrote: 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% The profit in 1982 was 15.6 - 12.0 = 3.6 million dollars, and, in 1983, the profit was 18.8 - 14.0 = 4.8 million dollars. We use the formula for percent increase: (new - old)/old x 100. The percent increase from 1982 to 1983 was: (4.8 - 3.6)/3.6 x 100 1.2/3.6 x 100 12/36 x 100 = 1/3 x 100 = 33 1/3% Answer: D _________________ Scott Woodbury-Stewart Founder and CEO GMAT Quant Self-Study Course 500+ lessons 3000+ practice problems 800+ HD solutions Re: In 1982 and 1983, Company B’s operating expenses were$12.0 million an   [#permalink] 10 Apr 2018, 17:22
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