The sales of a particular brand of children’s athletic shoes rose from $5,000,000 to $5,800,000. Find the percent of increase in sales. Round to the nearest tenth of a percent, if necessary.
16%
13.8%
0.2%
86.2%
To find the percent increase in sales, use the formula:
Percent Increase = ((New Sales - Old Sales) / Old Sales) * 100
Percent Increase = (($5,800,000 - $5,000,000) / $5,000,000) * 100
Percent Increase = ($800,000 / $5,000,000) * 100
Percent Increase = 0.16 * 100
Percent Increase = 16%
Therefore, the percent increase in sales is 16%. So the closest answer choice is 16%.