sales were 2226.26 last year. this year sales are 2457.13. what is the formula I use to figure out what the percentage increase is for this year?

Question

I was told the answer is a 5% increase but I need to know how to figure that out.

Answer 1

First you want to subtract the difference of 2457.13 and 2226.26 and that is 230.87.

Since that is the increase from 2226.26, you divide 230.87 by 2226.26 and get .1037 or 10.37%

If you multiplied 2226.26 by 10.37% and add it to 2226.26 you would get 2457.13