If Sales Revenue Last Year was $350,000 and Current Year is $402,500, what is the sales growth percentage?

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Multiple Choice

If Sales Revenue Last Year was $350,000 and Current Year is $402,500, what is the sales growth percentage?

Explanation:
Growth percentage is the change from last year’s revenue expressed as a percentage of that previous amount. The increase here is 402,500 minus 350,000, which equals 52,500. Dividing that by last year’s 350,000 gives 52,500 / 350,000 = 0.15, and converting to a percent yields 15%. So sales grew by 15% year over year, meaning last year’s revenue increased by 15% to reach this year’s total. For reference, a 10% rise would be 35,000 more, a 13% rise would be 45,500 more, and a 17% rise would be 59,500 more, none of which match the actual increase.

Growth percentage is the change from last year’s revenue expressed as a percentage of that previous amount. The increase here is 402,500 minus 350,000, which equals 52,500. Dividing that by last year’s 350,000 gives 52,500 / 350,000 = 0.15, and converting to a percent yields 15%. So sales grew by 15% year over year, meaning last year’s revenue increased by 15% to reach this year’s total. For reference, a 10% rise would be 35,000 more, a 13% rise would be 45,500 more, and a 17% rise would be 59,500 more, none of which match the actual increase.

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