As compared to its first year of operation, abc company grew 8% in the second year and an additional 2% per year for the next two years. if total growth for years 2-4 was $45,000 over the first year’s sales of $150,000, how much did abc company grow in year 2?
Then it grew 8% for the second years, and 2% each year for the next 2 years.
Total growth from 2-4 years increase is 45 000 dollars
Find the growth for the year 2
=> 8% = 8/100 = 0.08
=> 150 000 x .08
=> 120 000
Thus the growth of the ABC company for the second year is 120 000, that makes it
=> 150 000 + 120 000
=> 162 000 dollars.
What we're trying to find is the growth in the second year. We're told that the company grows 8% on the second year, and the starting sale on the first year was 150,000. Really, thats all you need to know!
Since you know the starting price (150,000) and the growth percentage (8%), all you really have to do is multiply the starting price with the percentage.
So that would be 150,000 *.08, which is 12000. Therefore, the growth in the second year was 12,000
Hope this helped ^-^
i have done this all on a piece of paper but idk how to put it on here cuz it needs to be drawn