Multiple choice

A tech company's revenue grew from \$2.8 million to \$3.36 million in one year. By what percentage did the company's revenue increase? Additionally, if the growth continues at the same rate, what will the revenue be in the next year?

  1. 20%, $3.402 million
  2. 17%, $4.023 million
  3. 20%, $4.032 million
  4. 23%, $4.302 million
  5. 18%, $4.320 million
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Percentage increase = ((3.36 - 2.8) / 2.8) * 100 = (0.56 / 2.8) * 100 = 20%. Next year revenue = 3.36 * 1.20 = 4.032 million.

AI explanation

Using the percentage increase formula, we calculate ((3.36 - 2.8) / 2.8) * 100 = 20%. Applying this growth rate to the next year, the revenue becomes 3.36 * 1.20 = 4.032 million. The result is 20% and $4.032 million.

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