1. **State the problem:** We need to calculate the market size last year and the market growth given the number of smartphones sold last year and their average selling price, as well as the current market size. 2. **Calculate the market size last year:** The market size last year is the total revenue from smartphone sales. Given: - Number of smartphones sold last year = 7.2 million - Average selling price per smartphone = 230 Market size last year = Number sold \times Average price $$\text{Market size last year} = 7.2 \times 10^6 \times 230 = 1,656,000,000$$ So, the market size last year was 1,656 million. 3. **Calculate the market growth:** Given: - Current market size = 1,880 million - Market size last year = 1,656 million Market growth = Current market size - Market size last year $$\text{Market growth} = 1,880 - 1,656 = 224$$ 4. **Interpretation:** The market grew by 224 million from last year to the current year. **Final answers:** - Market size last year = 1,656 million - Market growth = 224 million