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,

$\frac{24-16}{16}\times100$

Then,

$\begin{gathered} \frac{24-16}{16}\times100=\frac{8}{16}\times100 \\ =\frac{1}{2}\times100 \\ =0.5\times100 \\ =50\% \end{gathered}$

Hence, the correct option is C.