Question

Assume the following sales data for a company:

2023 $968000
2022 880440
2021 638000

If 2021 is the base year, what is the percentage increase in sales from 2021 to 2022?

Answer 1

Percentage increase= 38%

Step-by-step explanation:

Giving the following information:

Sales:

2022= $880,440

2021= $638,000

To calculate the percentage increase in sales, we need to use the following formula:

Percentage increase= [(2022/2021) - 1]*100

Percentage increase= [(880,440/638,000) - 1]*100

Percentage increase= 38%