the owner of an organic pet food store would like to analyze the sales data to determine if the business is…

the owner of an organic pet food store would like to analyze the sales data to determine if the business is growing, declining or remaining flat. the owner has the following data: sales revenue last year = $350,000 sales revenue current year = $402,500 what is the sales growth percentage?

the owner of an organic pet food store would like to analyze the sales data to determine if the business is growing, declining or remaining flat. the owner has the following data: sales revenue last year = $350,000 sales revenue current year = $402,500 what is the sales growth percentage?

Answer

Explanation:

Step1: Recall sales - growth formula

The formula for sales - growth percentage is $\text{Sales Growth}%=\frac{\text{Current Year Sales}-\text{Last Year Sales}}{\text{Last Year Sales}}\times100%$.

Step2: Substitute given values

We have $\text{Last Year Sales} = 350000$ and $\text{Current Year Sales}=402500$. $\text{Sales Growth}%=\frac{402500 - 350000}{350000}\times100%$. First, calculate the numerator: $402500−350000 = 52500$. Then, $\frac{52500}{350000}\times100%=0.15\times100% = 15%$.

Answer:

$15%$