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In a certain city, the average income for a family of four rose from

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In a certain city, the average income for a family of four rose from  [#permalink]

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New post 31 Jan 2018, 01:31
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In a certain city, the average income for a family of four rose from $12,200 in 1980 to $16,300 in 1986. This represents an increase of approximately

(A) 4%

(B) 25%

(C) 33 1/3 %

(D) 40%

(E) 60%

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In a certain city, the average income for a family of four rose from  [#permalink]

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New post 31 Jan 2018, 01:52
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Bunuel wrote:
In a certain city, the average income for a family of four rose from $12,200 in 1980 to $16,300 in 1986. This represents an increase of approximately

(A) 4%

(B) 25%

(C) 33 1/3 %

(D) 40%

(E) 60%


Since the average income rose from $12200 to $16300, the rise is $4100(16300 - 12200)

This represents an increase of \(\frac{4100}{12200} * 100 = \frac{400000}{12000}\) = approximately \(33\frac{1}{3}\)% (Option C)
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Re: In a certain city, the average income for a family of four rose from  [#permalink]

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New post 31 Jan 2018, 04:23
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Bunuel wrote:
In a certain city, the average income for a family of four rose from $12,200 in 1980 to $16,300 in 1986. This represents an increase of approximately

(A) 4%

(B) 25%

(C) 33 1/3 %

(D) 40%

(E) 60%


Solution



    • Initial average income \(= $12,200\)

    • Final average income \(= $16,300\)

    • Thus, percentage increase \(= (\frac{Final}{Initial} – 1) * 100\)

    o Percentage increase \(= (\frac{16300}{12200} – 1) * 100 = \frac{41}{122} * 100 = \frac{40}{120} *100 = 33 \frac{1}{3}\)%

Correct Answer: Option C

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Re: In a certain city, the average income for a family of four rose from  [#permalink]

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New post 31 Jan 2018, 04:39
Bunuel wrote:
In a certain city, the average income for a family of four rose from $12,200 in 1980 to $16,300 in 1986. This represents an increase of approximately

(A) 4%

(B) 25%

(C) 33 1/3 %

(D) 40%

(E) 60%

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33 1/3 %

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Re: In a certain city, the average income for a family of four rose from  [#permalink]

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New post 31 Jan 2018, 09:08
Bunuel wrote:
In a certain city, the average income for a family of four rose from $12,200 in 1980 to $16,300 in 1986. This represents an increase of approximately

(A) 4%

(B) 25%

(C) 33 1/3 %

(D) 40%

(E) 60%


Percentage increase = \(\frac{(New - Old)}{Old}\) x 100 =\(\frac{(16300 - 12200)}{12200}\) x100
= \(\frac{4100}{12200}\) x100 = Approx. \(\frac{1}{3}\) x100 = 33 \(\frac{1}{3}\)%

Answer C.
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Re: In a certain city, the average income for a family of four rose from  [#permalink]

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New post 31 Jan 2018, 10:04
Bunuel wrote:
In a certain city, the average income for a family of four rose from $12,200 in 1980 to $16,300 in 1986. This represents an increase of approximately

(A) 4%

(B) 25%

(C) 33 1/3 %

(D) 40%

(E) 60%

\(\frac{(16,300 - 12,200 )}{12,200}*100\)

= \(33 \frac{1}{3}\) % , Answer must be (C)

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Re: In a certain city, the average income for a family of four rose from  [#permalink]

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New post 02 Feb 2018, 11:03
Bunuel wrote:
In a certain city, the average income for a family of four rose from $12,200 in 1980 to $16,300 in 1986. This represents an increase of approximately

(A) 4%

(B) 25%

(C) 33 1/3 %

(D) 40%

(E) 60%


We can use the percent change formula (New - Old)/Old x 100:

(16,300 - 12,200)/12,200 x 100 = 4100/12200 x 100 ≈ 4,000/12,000 x 100 = ⅓ x 100 = 33 1/3 %

Answer: C
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Re: In a certain city, the average income for a family of four rose from  [#permalink]

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New post 08 Feb 2018, 19:36
$12,200 in 1980 , $16300 in 1986. Difference is $4100.

Change = (4100/12,200) * 100 = 33 1/3%

Ans: C
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Re: In a certain city, the average income for a family of four rose from   [#permalink] 08 Feb 2018, 19:36
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