Question

Solve the application problem. Round to the nearest percent.

Last month, Jones Used Car Lot sold $150,000.00 worth of cars. This month their car sales reached $450,000.00. What was their percent increase in car sales?

Answer 1

200%

Explanation:

`\boxed{\begin{minipage}{8 cm}\underline{Percent change formula}\\\\$\rm Percent\:change=(final\:value-initial\:value)/(initial\:value) * 100$\\ \end{minipage}}`

Given values:

• Initial value = $150,000
• Final value = $450,000

Substitute the values into the percent change formula to find the percent increase in car sales:

`\begin{aligned} \implies \textsf{percent change}&=(450000-150000)/(150000)* 100\\\\&=(300000)/(150000)* 100\\\\ &=2* 100\\\\&=200\%\end{aligned}`

Therefore, the percent increase in car sales was 200%.