Using the data in Extract A, calculate the percentage increase in the hourly wage that Tesco would have to pay its staff to match Aldi's - Edexcel - A-Level Business - Question 1 - 2022 - Paper 1
Question 1
Using the data in Extract A, calculate the percentage increase in the hourly wage that Tesco would have to pay its staff to match Aldi's. State your answer to two de... show full transcript
Worked Solution & Example Answer:Using the data in Extract A, calculate the percentage increase in the hourly wage that Tesco would have to pay its staff to match Aldi's - Edexcel - A-Level Business - Question 1 - 2022 - Paper 1
Step 1
Calculate the difference in hourly wage between Aldi and Tesco
96%
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Answer
The hourly wage for Aldi is £8.85, and for Tesco it is £8.02. Therefore, the difference in wage is calculated as:
extDifference=extAldi−extTesco=8.85−8.02=0.83
Step 2
Calculate the increase in Tesco's wage to match Aldi's
99%
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Answer
To find the new wage for Tesco, we add the difference calculated above to Tesco's current wage:
extNewWage=extTesco+extDifference=8.02+0.83=8.85
Step 3
Calculate the percentage increase in Tesco's wage
96%
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Answer
The percentage increase can be calculated using the formula:
