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Math

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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?

  • Math -

    would this be 1.68%

  • Math -

    14%-12% = 2 percentage points.

  • Math -

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

  • Math -

    sorry I forgot to insert the fraction

  • Math -

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

  • Math -

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

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

  • Math -

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

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    the answer I got was 2 5/8

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    is this correct DrBob

  • Math -

    Yes.

    14 1/4 - 12 3/8 =
    14 2/8 - 12 3/8 =
    13 10/8 - 12 3/8 = 1 7/8

  • Math -

    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

  • Math -

    hmmmm how did you get 13 10/8?

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    ok.... thank you

  • Math -

    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.

  • Math -

    thank you

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