At the time of writing this, Tesco had just released trading figures for the first 24 weeks of 2003. Its sales came to 12 billion pounds for the UK and 3 billion pounds for overseas trading. It made 530 million profit from UK sales and 98 million pounds from overseas trading. Tesco stores in the UK accounted for 12.3% of all UK retail sales. For the following questions give your results in a sensible form and precision.
(a) What % profit did Tesco make during the 24 weeks from its UK operation? from its overseas tradin?
(b) What was the total value of all retail sales in the UK during the first 24 weeks of 2003?
(c) What would you expect them to be for the whole of 2003 (52 weeks)? Why might your answer be wrong?