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

50.16%

Step-by-step explanation:

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

`(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:

`(764,442-509,074)/(509,074)\cdot 100=50.16\%`