Question
Download Solution PDFStudy the graph and find what is the maximum percentage increase of tea from the previous year to the next year.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The table shows the consumption of tea from 2020 to 2023.
Tea consumption in 2020 = 13
Tea consumption in 2021 = 15
Tea consumption in 2022 = 17
Tea consumption in 2023 = 20
Formula used:
Percentage increase = [(New value - Old value) / Old value] × 100
Calculation:
From 2020 to 2021:
Percentage increase = [(15 - 13) / 13] × 100
⇒ Percentage increase = 15.38%
From 2021 to 2022:
Percentage increase = [(17 - 15) / 15] × 100
⇒ Percentage increase = 13.33%
From 2022 to 2023:
Percentage increase = [(20 - 17) / 17] × 100
⇒ Percentage increase = 17.65%
∴ The maximum percentage increase of tea from the previous year to the next year is 17.65% (from 2022 to 2023).
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