1985 AJHSME Problem 6

A stack of paper containing 500 sheets is 5 cm thick. Approximately how many sheets of this type of paper would there be in a stack 7.5 cm high?

\textbf{(A)}\ 250 \qquad \textbf{(B)}\ 550 \qquad \textbf{(C)}\ 667 \qquad \textbf{(D)}\ 750 \qquad \textbf{(E)}\ 1250

Full credit goes to MAA for authoring these problems. These problems were taken on the AOPS website.