an account manager has the following numbers this month: 50 customers who were up for contract renewal; 25…

an account manager has the following numbers this month: 50 customers who were up for contract renewal; 25 of those customers renewed. of those 25 who renewed, 20 bought additional products compared to their previous contract. what was the salesperson’s renewal rate?\n50%\n80%\n40%\n25%

an account manager has the following numbers this month: 50 customers who were up for contract renewal; 25 of those customers renewed. of those 25 who renewed, 20 bought additional products compared to their previous contract. what was the salesperson’s renewal rate?\n50%\n80%\n40%\n25%

Answer

Explanation:

Step1: Identify renewal rate formula

Renewal rate = $\frac{\text{Number of customers who renewed}}{\text{Total number of customers up for renewal}}\times100%$

Step2: Substitute values

Number of customers who renewed = 25, Total number of customers up for renewal = 50. So renewal rate = $\frac{25}{50}\times100%$

Step3: Calculate

$\frac{25}{50}\times100%= 0.5\times100% = 50%$

Answer:

50%