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A mixed graph shows the profit margins of four products (M, N, O, P) over two ye

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Question: A mixed graph shows the profit margins of four products (M, N, O, P) over two years. If Product M had a profit margin of 15% in Year 1 and 20% in Year 2, what is the increase in profit margin?

Options:

  1. 2%
  2. 3%
  3. 4%
  4. 5%

Correct Answer: 4%

Solution: 

The increase in profit margin is 20% - 15% = 5%.

A mixed graph shows the profit margins of four products (M, N, O, P) over two ye

Practice Questions

Q1
A mixed graph shows the profit margins of four products (M, N, O, P) over two years. If Product M had a profit margin of 15% in Year 1 and 20% in Year 2, what is the increase in profit margin?
  1. 2%
  2. 3%
  3. 4%
  4. 5%

Questions & Step-by-Step Solutions

A mixed graph shows the profit margins of four products (M, N, O, P) over two years. If Product M had a profit margin of 15% in Year 1 and 20% in Year 2, what is the increase in profit margin?
  • Step 1: Identify the profit margin for Product M in Year 1, which is 15%.
  • Step 2: Identify the profit margin for Product M in Year 2, which is 20%.
  • Step 3: Subtract the Year 1 profit margin from the Year 2 profit margin: 20% - 15%.
  • Step 4: Calculate the result of the subtraction, which is 5%.
  • Step 5: Conclude that the increase in profit margin for Product M is 5%.
  • Percentage Increase – Understanding how to calculate the increase in a percentage over time.
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