Answer:
50.16%
Explanation:
The percentage increase in sales from the preceding year to the current year can be calculated as:
[tex]\frac{P_c-P_p}{P_p}\cdot 100[/tex]
where:
[tex]P_c[/tex] is the sale for the current year
[tex]P_p[/tex] is the sale for the preceding year
From the sales data of this problem, we have:
[tex]P_c=\$764,442[/tex] (current year)
[tex]P_p=\$509,074[/tex] (preceding year)
Therefore, the percentage increase in sales is:
[tex]\frac{764,442-509,074}{509,074}\cdot 100=50.16\%[/tex]
