Question

Directions:
Directions for the following 4 questions: The table below shows the sales (in thousands of units) of four products P, Q, R and S of a company over three years. Study the table and answer the questions that follow. Year | P | Q | R | S 2021 | 20 | 30 | 25 | 15 2022 | 25 | 35 | 20 | 20 2023 | 30 | 40 | 30 | 25

What is the percentage increase in the sales of product Q from 2021 to 2023?

• A. 33.33%
• B. 25%
• C. 40%
• D. 20%

Hint:

Instead of subtracting first, try forming the ratio of the 2023 value to the 2021 value and see what that ratio tells you about growth beyond 100%.

Answer 1

The Correct Option is A

Step 1: Instead of computing the increase and dividing by the original value, use the ratio of final value to initial value directly.
Step 2: Product Q's sales were $30$ (thousand units) in 2021 and $40$ (thousand units) in 2023.
Step 3: Form the ratio of new to old value: $\frac{\text{2023 value}}{\text{2021 value}}=\frac{40}{30}=\frac{4}{3}$.
Step 4: This ratio $\frac{4}{3}$ represents the value as a multiple of the original. The growth factor beyond the original is $\frac{4}{3}-1=\frac{1}{3}$.
Step 5: Convert this fraction to a percentage: $\frac{1}{3}\times100=33.33\%$. \[\boxed{33.33\%}\]