Car Dealership X, the total profit from sales increased by 15 percent over the previous years, while...

Car Dealership X, the total profit from sales increased by 15 percent over the previous years, while the number of cars sold decreased by 15 percent over the previous years. Approximately what was the average percent increase in profit per car over the previous year.

Quiz

Answer/Solution

35.29%

Steps/Work

Let Profit be x and cars sold be y
Originally Profit/Car = x/y
Now it is 1.15x / 0.85 y = 115/85 (x/y)
Increase in profit per car = ((30/85) (x/y)) / (x/y) * 100 = 35.29%
Answer = D

General Calculator / Auto Solver

Car dealership x, the total profit from sales increased by percent over the previous years, while the number of cars sold decreased by percent over the previous years. Approximately what was the average percent increase in profit per car over the previous year.

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