Final answer:
To win £16,464 with an increased conversion rate of 27.5%, the student would theoretically need to pitch contracts worth £59,869.09, but this value does not correspond with any of the provided multiple-choice options.The correct answer is approximately option b.
Step-by-step explanation:
The student asked how much value in contracts they would need to pitch for to win £16,464 if their conversion rate from contract pitches to contract wins increased by 10% from last year. Last year, the student pitched £52,500 and won £13,125, which represents a conversion rate of ± (13125/52500)*100% = 25%. With a 10% increase, the new conversion rate is 25% + (10% of 25%) = 27.5%.
To find out how much needs to be pitched to win £16,464 at a 27.5% conversion rate, we can set up the equation: (Pitched Value) * 27.5% = £16,464. By solving for Pitched Value, we get Pitched Value = £16,464 / 27.5% = £59,869.09. However, it does not exactly match any of the multiple-choice options provided in the question, indicating a possible error in the question itself or the options given.