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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

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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

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Answer

The difference in the hourly wage between Aldi and Tesco can be calculated as:

Difference = Aldi's wage - Tesco's wage Difference = £8.85 - £8.02 = £0.83

Step 2

Calculate the increase in Tesco's wage to match Aldi's wage

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Answer

To find the new wage that Tesco needs to pay, we add the difference to Tesco's current wage:

New Wage = Tesco's wage + Difference New Wage = £8.02 + £0.83 = £8.85

Step 3

Calculate the percentage increase

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Answer

The percentage increase can be calculated using the formula:

Percentage Increase = (Difference / Tesco's wage) × 100 Percentage Increase = (£0.83 / £8.02) × 100 = 10.35%

Thus, the percentage increase in the hourly wage that Tesco needs to match Aldi's wage is 10.35%.

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