Question

Over a period of 3 years, the company's sales of biscuits increased from 15.6 million packets to 20.8 million packets. The sales increased exponentially by the same percentage each year. Calculate the percentage increase each year.

Answer 1

The percentage increase  each year is 33.33%

Explanation:

• The percentage increase is computed by using this formula, which as follows:

• Percentage increase = Increase in sales of company / Base year sales

      Where

    Increase in sales is as:

     = 20.8 million - 15.6 million

     = 5.2 million

• Base year sales is last year sale which is 15.6 million

       Putting the values above:

      = 5.2 / 15.6

      = 33.33 %

• Therefore, the percentage increase is 33.33%