Math
posted by Anonymous on .
The interest rate on an auto loan in May was 12 %. By September the rate was up to 14 %. How many percentage points did the interest rate increase over the period?
How would I begin this?

would this be 1.68%

14%12% = 2 percentage points.

it is actually 14 1/4% and 12 3/8%

sorry I forgot to insert the fraction

Ye gads! Why didn't you post the correct figures in your first post?

would i subtract 12 3/8% from 14 1/4%?

sorry Ms. Sue I didn't read the problem correctly

Yes, 14 1/4  12 3/8 = ??

the answer I got was 2 5/8

is this correct DrBob

Yes.
14 1/4  12 3/8 =
14 2/8  12 3/8 =
13 10/8  12 3/8 = 1 7/8 
The easier way is to convert the fractions to decimals and run it through a calculator.
14 1/4 = 14.25
12 3/8 = 12.375 
hmmmm how did you get 13 10/8?

ok.... thank you

I don't see a 13 10/8 anywhere in the answers.
Do it as Ms Sue did.
14 1/4 = 14.25
12 3/8 = 12.375
14.25  12.375 = 1.875
OR
convert fractions.
14 1/4 = 57/4 = 114/8
12 3/8 = 99/8
114/8  99/8 = 15/8 = 1 7/8 and if you divide 7/8 on the calculator you get .875 so 1 7/8 = 1.875 and the two methods give the same answer. 
thank you