In the last financial year, a car company sold 41,800 cars. In this year, the target is to sell 51,300 cars. By what percent must the sale be increased?
22 8/11%
To determine the percentage by which the car sales must be increased, we need to find the increase in sales as a percentage of the sales from the previous year. The formula for finding the percentage increase is:
Percentage Increase = \(\left(\frac{\text{Target Sales} - \text{Last Year's Sales}}{\text{Last Year's Sales}}\right) \times 100\)%
Substituting the given values:
Last Year's Sales = 41,800 cars
Target Sales = 51,300 cars
First, calculate the increase in sales:
Increase in Sales = Target Sales - Last Year's Sales = 51,300 - 41,800 = 9,500
Now, calculate the percentage increase:
Percentage Increase = \(\left(\frac{9,500}{41,800}\right) \times 100\)%
Calculate the fraction:
\(\frac{9,500}{41,800} \approx 0.2272\)
Converting to a percentage:
0.2272 × 100% ≈ 22.72%
To convert the decimal to a mixed number:
22.72% can be represented as 22 72/100%
Simplifying the fraction:
72/100 = 18/25
Converting to a fraction over 22:
\(18/25 \approx 8/11\)
Thus, the percentage increase is approximately 22 8/11%.
Therefore, the car sales need to be increased by 22 8/11%.
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