Question : In the last financial year, a car company sold 41800 cars. This year, the target is to sell 51300 cars. By what percentage must sales be increased?
Option 1: $11\frac{9}{22}$%
Option 2: $8\frac{9}{22}$%
Option 3: $8\frac{11}{23}$%
Option 4: $22\frac{8}{11}$%
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Correct Answer: $22\frac{8}{11}$%
Solution :
Last year's sales = 41800 cars
Present year's target = 51300 cars
Increase in sales = 51300 – 41800 = 9500
Percentage change = $\frac{\text{Difference}}{\text{Initial value}} × 100$
So, the required percentage $=\frac{9500}{41800}×100 = \frac{250}{11} = 22 \frac{8}{11}$%
Hence, the correct answer is $22 \frac{8}{11}$%.
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