Chapter 7, Problem 14STP

(a)

To determine

To find: how much the store manager wants to do in sales volume next year.

Answer to Problem 14STP

  $n=184000$

Explanation of Solution

Given information:

A retail store currently has annual sales of $160000. The sales manager’s goal is to increase sales by 15% for the following year.

Calculation:

Let the $n$ be the part which is the total number of sales next year. The whole is $160000 and the percent $\left(100+15\right)\%=115\%$ .

  $\begin{array}{c}\text{Equation:part}=\text{percent}\times \text{whole}\\ n=1.15\times 160000\text{Write}\text{the}\text{percent}\text{equation}\\ n=184000\text{Multiply}\end{array}$

(b)

To determine

To find: the store’s sales volume need to increase next year to meet this goal.

Answer to Problem 14STP

Explanation of Solution

The store’s sales volume need to increase next year to meet this goal is calculated as shown:

  $\left(184000-160000\right)=24000$

(c)

To determine

To find: the amount of sales volume next year if it is increased by 5%,10%,15% and 20%.

Answer to Problem 14STP

Percent	The annually sales next year
$\left(100+5\right)\%=105\%$	$n=168000\text{sales}$
$\left(100+10\right)\%=110\%$	$n=176000\text{sales}$
$\left(100+15\right)\%=115\%$	$n=184000\text{sales}$
$\left(100+20\right)\%=120\%$	$n=192000\text{sales}$

Explanation of Solution

Calculation:

Now, construct a table for the amount of sales volume next year if it is increased by 5%,10%,15% and 20%.

The annually sales this year(whole)	Percent	The annually sales next year(part=percent $\times$ whole)
160000	$\left(100+5\right)\%=105\%$	$\begin{array}{c}n=1.05\times 160000\\ =168000\text{sales}\end{array}$
160000	$\left(100+10\right)\%=110\%$	$\begin{array}{c}n=1.10\times 160000\\ =176000\text{sales}\end{array}$
160000	$\left(100+15\right)\%=115\%$	$\begin{array}{c}n=1.15\times 160000\\ =184000\text{sales}\end{array}$
160000	$\left(100+20\right)\%=120\%$	$\begin{array}{c}n=1.20\times 160000\\ =192000\text{sales}\end{array}$