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A company aims to increase its market share by 10% over the next year. If its cu

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Question: A company aims to increase its market share by 10% over the next year. If its current market share is 25%, what will be its target market share?

Options:

  1. 30%
  2. 35%
  3. 40%
  4. 45%

Correct Answer: 30%

Solution: 

Increasing 25% by 10% gives a target market share of 30%.

A company aims to increase its market share by 10% over the next year. If its cu

Practice Questions

Q1
A company aims to increase its market share by 10% over the next year. If its current market share is 25%, what will be its target market share?
  1. 30%
  2. 35%
  3. 40%
  4. 45%

Questions & Step-by-Step Solutions

A company aims to increase its market share by 10% over the next year. If its current market share is 25%, what will be its target market share?
  • Step 1: Identify the current market share, which is 25%.
  • Step 2: Determine the percentage increase desired, which is 10%.
  • Step 3: Calculate 10% of the current market share (25%). This is done by multiplying 25% by 0.10.
  • Step 4: 10% of 25% is 2.5%.
  • Step 5: Add this increase (2.5%) to the current market share (25%).
  • Step 6: 25% + 2.5% equals 27.5%.
  • Step 7: The target market share is 27.5%.
  • Percentage Increase – Understanding how to calculate a percentage increase based on a given value.
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