Question

A chartered bank is raising the interest rate on its Visa credit card from 9% to 11%. What will be the percent increase in the interest charges on a given balance? Note: Please make sure your final answer(s) are in percentage form and are accurate to 1 decimal place. For example 34.5%

Answer 1

11/9 is the ratio of new to old interest charges.

2/9 is the relative increase.

Convert that to percent