Question

in 2018 the company had profits of $16 million. In 2019, the company's profits were $24 million. What was the percent of the increase in the company's profits? a 150% b. 67% c 50% d. 30%

Answer 1

As given by the question

There are given that the profit of $16 milonin 2018 and $24 milion in 2019.

Now,

To find the profit,

`(24-16)/(16)*100`

Then,

`\begin{gathered} (24-16)/(16)*100=(8)/(16)*100 \\ =(1)/(2)*100 \\ =0.5*100 \\ =50\% \end{gathered}`

Hence, the correct option is C.