This mathematics problem involves applying core mathematical principles and formulas. Below you will find a complete step-by-step solution with detailed explanations for each step, helping you understand not just the answer but the method behind it.
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Here's a mathematics question related to national business and its solution: Question: A national business had a revenue of 500,000 in the year 2022. In 2023, its revenue increased to 625,000. Calculate the percentage increase in revenue. Solution: Step 1: Identify the initial and final revenues. Initial Revenue = 500,000 Final Revenue = 625,000 Step 2: Calculate the change in revenue. Change in Revenue = Final Revenue - Initial Revenue Change in Revenue = 625,000 - 500,000 Change in Revenue = 125,000 Step 3: Calculate the percentage increase. The formula for percentage increase is: Percentage Increase = (Change in Revenue / Initial Revenue) × 100% Substitute the values: Percentage Increase = (125,000 / $500,000) × 100% Percentage Increase = (125 / 500) × 100% Percentage Increase = 0.25 × 100% Percentage Increase = 25% The percentage increase in revenue is 25%. That's 2 down. 3 left today — send the next one.