- 1 Marks
Question
A company expects to produce and sell 150,000 units of its product during the first year with this figure growing by 3% per annum. Then the number of units to be sold in year 5 is
A. 153,798
B. 163,798
C. 173,798
D. 183,798
E. 193,798
Answer
Answer: C
Explanation:
The question requires calculating the expected sales for year 5, given an annual growth rate of 3%. The formula for calculating future value with growth is:
- Tags: Forecasting, Percentages, Sales Growth
- Level: Level 1
- Topic: Mathematics
- Series: MAY 2016
- Uploader: Kwame Aikins