From year 1 to year 2, the percentage increase will be 14%.
The percentage increase is used to know the value when you analyze how a value has changed with time. To determine how much the percentage increase, we can calculate it using the formula below:
percent increase = (final - initial)/initial x 100
To determine the the percentage increase in sales from Year 1 to Year 2 we can calculate it by this equation below:
The percentage increase = ($684,000 - $600,000)/$600,000 = 1.4 = 14%
This question is not complete. The complete question is shown below:
Assume the following sales data for a company:
Year 2 $684,000
Year 1 $600,000 What is the percentage increase in sales from Year 1 to Year 2 (to the nearest percent)?
a. 88%
b. 114%
c. 12%
d. 14%
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