Using the data in Extract A, calculate the change in value of sugar-free sweets sales predicted between 2018 and 2023 - Edexcel - A-Level Business - Question 1 - 2022 - Paper 1
Question 1
Using the data in Extract A, calculate the change in value of sugar-free sweets sales predicted between 2018 and 2023. State your answer to 2 decimal places.
In 2018... show full transcript
Worked Solution & Example Answer:Using the data in Extract A, calculate the change in value of sugar-free sweets sales predicted between 2018 and 2023 - Edexcel - A-Level Business - Question 1 - 2022 - Paper 1
Step 1
Calculate total sales revenue for 2018
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Answer
In 2018, the total sales revenue can be calculated using the figure provided for that year in the graph, which is £2,388 million. Thus, the sales from sugar-free sweets in 2018 is:
extSalesfromsugar−freesweets=3% of 2,388 million=1003×2,388=71.64 million
Step 2
Calculate total sales revenue for 2023
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Answer
From the graph, the projected sales revenue for 2023 is £2,734 million. Thus, the sales from sugar-free sweets in 2023 is:
extSalesfromsugar−freesweets=5% of 2,734 million=1005×2,734=136.70 million
Step 3
Calculate change in value
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Answer
The change in the value of sugar-free sweets sales from 2018 to 2023 is:
extChange=136.70−71.64=65.06 million
Therefore, the change in sales predicted between 2018 and 2023 is £65.06 million.