Question

g Assume the following sales data for a company: Current year $764,442 Preceding year $509,074 What is the percentage increase in sales from the preceding year to the current year? Select the correct answer. 50.16% 150.16% 33.41% 66.59%

Answer 1

Answer:

50.16%

Explanation:

The percentage increase in sales from the preceding year to the current year can be calculated as:

$\frac{P_c-P_p}{P_p}\cdot 100$

where:

$P_c$ is the sale for the current year

$P_p$ is the sale for the preceding year

From the sales data of this problem, we have:

$P_c=\ 764,442$ (current year)

$P_p=\ 509,074$ (preceding year)

Therefore, the percentage increase in sales is:

$\frac{764,442-509,074}{509,074}\cdot 100=50.16\%$