If sales are $1,081,000 in 2019 and this represents a 15% increase over sales in 2018, what were sales in 2018?

Sales of 2018 amounts to $940,000

Explanation:

When the sales in the year 2019 is $1,081,000 and this sales represent 15% increase then the sales of 2018 is computed as.

= Sales of 2019 / 115 × 100

= $1,081,000 / 115 × 100

= $940,000

So, the sales of the year 2018 is $940,000

Working Note:

= (100 + 15)%

= 115%

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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