At a contest with 500 participants, 1/2 of the people are aged 28 to 32. Next year, the number of people aged 28 to 32 will increase by 1/8. After this change, what percentage of the total 500 people will the 28- to 32-year-olds represent?	Choose the correct choice.
A) 33.25 % B) 40.25 % C) 50.25 % D) 55.25 % E) 56.25 %

Rationale: "i just wanted to mention a couple of things here : * this is a pure ratio question ; the number 500 is completely irrelevant , and you can ignore it if you like . when we increase something by 1 / 8 , we are multiplying it by 1 + 1 / 8 = 9 / 8 , so the answer here must be ( 1 / 2 ) * ( 9 / 8 ) = 9 / 16 = 56.25 % . answer is e"
Answer: E