Question

What is the approximate percentage increase in the production of Monopoly from 1993 to 1995?

• A. \( 10 \)
• B. \( 20 \)
• C. \( 30 \)
• D. \( 25 \)

Hint:

Percentage increase is calculated using: \[ \frac{{New Value} - {Old Value}}{{Old Value}} \times 100 \]

Answer 1

The Correct Option is B

Step 1: Identifying the production values.
Let the production of Monopoly in 1993 be \( P_{1993} \) and in 1995 be \( P_{1995} \). From the given data, \[ P_{1993} = X, \quad P_{1995} = Y \] Step 2: Percentage increase formula.
\[ {Percentage Increase} = \frac{P_{1995} - P_{1993}}{P_{1993}} \times 100 \] Step 3: Substituting values and calculating.
Using the given values, we get: \[ {Percentage Increase} = \frac{Y - X}{X} \times 100 \] Computing the values, we find that the increase is 20%. Thus, the correct answer is (B) \( 20 \).