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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

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-Edexcel-A-Level Business-Question 1-2022-Paper 1.png

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

First, identify the basic hourly wage for Aldi and Tesco from the given data:

Aldi: £8.85
Tesco: £8.02

Then, calculate the difference:

Difference = Aldi wage - Tesco wage = £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

Next, to find the percentage increase required for Tesco's wage to match Aldi's, we can use the formula:

[ \text{Percentage Increase} = \frac{\text{Increase}}{\text{Original Wage}} \times 100 ]

Applying the values:

[ \text{Percentage Increase} = \frac{0.83}{8.02} \times 100 \approx 10.35% ]

Step 3

State the percentage increase to two decimal places

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Answer

Finally, the percentage increase in the hourly wage that Tesco needs to pay to match Aldi's wage is:

10.35%. This value is rounded to two decimal places as required.

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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

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

Calculate the difference in hourly wage between Aldi and Tesco

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

State the percentage increase to two decimal places

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