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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

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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:

extSalesfromsugarfreesweets=3% of 2,388 million=3100×2,388=71.64 million ext{Sales from sugar-free sweets} = 3\% \text{ of } 2,388 \text{ million} = \frac{3}{100} \times 2,388 = 71.64 \text{ 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:

extSalesfromsugarfreesweets=5% of 2,734 million=5100×2,734=136.70 million ext{Sales from sugar-free sweets} = 5\% \text{ of } 2,734 \text{ million} = \frac{5}{100} \times 2,734 = 136.70 \text{ 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=136.7071.64=65.06 million ext{Change} = 136.70 - 71.64 = 65.06 \text{ million}

Therefore, the change in sales predicted between 2018 and 2023 is £65.06 million.

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