### Understanding Percentage Increase in SalesAssume the following sales data for a company:- **Year 2:** $562,500- **Year 1:** $450,000### Question:What is the percentage increase in sales from Year 1 to Year 2 (to the nearest whole percent)?### Options:a. 20% b. 125% c. 25% d. 80% To find the percentage increase, you can use the following formula:\[ \text{Percentage Increase} = \left( \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \right) \times 100 \]Substituting the values from the problem:\[ \text{Percentage Increase} = \left( \frac{562,500 - 450,000}{450,000} \right) \times 100 \]Calculate the difference first:\[ 562,500 - 450,000 = 112,500 \]Then, divide by the original value (Year 1):\[ \frac{112,500}{450,000} \approx 0.25 \]Finally, multiply by 100 to get the percentage:\[ 0.25 \times 100 = 25\% \]Therefore, the correct answer is **c. 25%**.

SOLUTION- FORMULA= PERCENTAGE INCREASE IN SALES FROM YEAR 1 TO YEAR 2= CHANGE IN SALES FROM YEAR 1…

Assume the following sales data for a company: Year 2 $562,500 Year 1 $450,000 What is the percentage increase in sales from Year 1 to Year 2 (to the nearest whole percent)? O a. 20% O b. 125% O c. 25% O d. 80%

Assume the following sales data for a company: Year 2 $562,500 Year 1 $450,000 What is the percentage increase in sales from Year 1 to Year 2 (to the nearest whole percent)? O a. 20% O b. 125% O c. 25% O d. 80%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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