Question

Assume the following sales data for a company: Year 2 $684,000 Year 1 $600,000 What is the percentage increase in sales from Year 1 to Year 2 (to the nearest percent)? a. 88% b. 114% c. 12% d. 14%

Answer 1

The correct answer is 14%

Step-by-step explanation

Year 1: $600,000

Year 2: $684,000

Year 2 ($684,000) - Year 1 (600,000) = $84.000

Method "Rule of three" or Cross multiplication

$600,000------100%

$84,000-------- ?

$84,000 x 100= 8,400,000 then you divide the answer into $600,000

8,400,000/600,000= 14%