Calculate the market growth rate of a product in a year if it sold 120,000 units in the first quarter of the year and 200,000 units in the last quarter of the year.

Question

Quizplus · Accepted Answer

To calculate the market growth rate, we need to find the percentage increase in sales from the first quarter to the last quarter of the year.

First, we need to find the total number of units sold in the year:

120,000 (1st quarter) + x (2nd and 3rd quarters) + 200,000 (4th quarter) = Total sales for the year

Assuming sales are evenly distributed across the 2nd and 3rd quarters, we can solve for x:

x = (Total sales for the year - 320,000)/2

x = (120,000 + x + x + 200,000)/4

x = 160,000

So the total number of units sold in the year is 120,000 + 160,000 + 160,000 + 200,000 = 640,000

Now we can calculate the market growth rate:

Market growth rate = (200,000 - 120,000)/120,000 * 100%

Market growth rate = 66.66%

Therefore, the answer is B.

Calculate the Market Growth Rate of a Product in a Year