. A company that made $2.4 million in profits the previous year is on pace to make $3 million in the current year. If
the company makes this figure, which of the following is the percent increase in profits?
16.
..
A. 6%
B. 11%
C.20%
D.25%
3.0 - 2.4 = .6
.6/2.4 = .25%
20% increased
if 3m is 100% then 2.4 is what or X
Ratio
3:100::2.4:X
calculate it
240000000/3000000=80
100-80= 20%
X= 240000000/3000000=80%
100%-80%= 20%
To find the percent increase in profits, we can use the following formula:
Percent Increase = ((New Value - Old Value) / Old Value) * 100
In this case, the old value represents the previous year's profits, which is $2.4 million, and the new value represents the current year's projected profits, which is $3 million.
Let's calculate the percent increase using the formula:
Percent Increase = (($3 million - $2.4 million) / $2.4 million) * 100
= ($0.6 million / $2.4 million) * 100
= 0.25 * 100
= 25%
Therefore, the correct answer is D. 25%.