The electricity costs of a business increased from $18,000 one year to $19,000 the next. To the nearest whole percent, what was the rate of increase?
I am not sure how you are learning to do this problem, but if you set up a proportion, you can get the answer
18 over 1 = 19 over x
18x=19
x=1.06
Check your work:
1.06(18)=19000
Garrett washes 3 cars in 72 minutes. How many minutes does it takes Garrett to wash one car?
To find the rate of increase, we need to calculate the difference between the two amounts and divide it by the initial amount. Then, we can multiply the result by 100 to convert it to a percentage.
The difference in electricity costs is given by:
$19,000 - $18,000 = $1,000
To find the rate of increase, divide the difference by the initial amount:
$1,000 / $18,000 = 0.0556 (rounded to four decimal places)
Finally, multiply this by 100 to obtain the percentage:
0.0556 * 100 ≈ 5.56%
Therefore, the rate of increase in electricity costs is approximately 5.56%.