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.