Solve the following for the rate. Round to the nearest tenth of a percent when necessary.
What is the rate if the base is $3,450 and the portion is $110?
Do not enter the percent symbol in your answer.
***I'm having to ask these questions because my professor didn't explain very well...I apologize for lots of problems***
r = 110/3450 = ___ expressed as a decimal.
I got r= 0.03188405
Correct. Expressed as a percentage: 3.2.
No problem, I'm here to help! To solve for the rate, we need to use the formula:
Rate = (Portion / Base) * 100
In this case, the base is $3,450 and the portion is $110. Let's plug these values into the formula:
Rate = (110 / 3450) * 100
First, divide the portion (110) by the base (3450):
Rate = 0.03188405797101 * 100
Next, multiply the result by 100 to convert it to a percentage:
Rate = 3.188405797101
Rounded to the nearest tenth of a percent, the rate is approximately 3.2 percent.
So, the rate is 3.2.