In the year 2000, the luxury car industry had 2 car manufacturer.toyota and Hyundai with market share of 25% and 75 % respectively.in 2001, the overall market foe the product increased bu 50% and a new player ferrari also entered the market and captured 15% of the market share.if we know that the share of Toyota increased to 50% in the second year. The Share of hyundai in that year was
Answers
Given : In the year 2000, the luxury car industry had 2 car manufacturer. Toyota and Hyundai with market share of 25% and 75 % respectively . product increased by 50% in 2001 . ferrari captured 15% of the market share . Toyota increased by 50 %
To find : The Share of hyundai in that year was
Solution :
Let say Total market of cars in 2000 = 100C
Toyota cars = (25/100)100C = 25C
Hyundai Cars = (75/100)100C = 75C
in 2001 total Cars = 100C + (50/100)100C = 150C
ferrari cars = (15/100)150C = 225C/10 = 22.5C
share of Toyota increased to 50% in the second year.
Toyota share = 25 + (50/100)25C = 37.5C
Hyundai Share = 150C - 22.5C - 37.5C
= 90C
Hyundai Share = (90C/150C) * 100 = 60 %
The Share of hyundai in 2001 = 60 %
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Answer:
Step-by-step explanation:
Let total production in 2000 be '1000'
Toyota = 250
Hyundai = 750
In 2001 production increased by 50% = '1500'
Ferrari = (15/100)*1500=225
Toyota = (50/100)*1500=750 (increased "to 50%" not by 50%)
Hyundai = 1500 - 225 - 750 = 525
Hyundai %= 525/1500 = 35%