It said PER YEAR
so divide by the number of years.
A park district paid their director $19,500 in 1960. In 2000 that same park district paid their director $40,000. Determine the average rate of increase per year to the nearest tenth of a percent
This is my answer
40,000-19,500=20,500/100=205%
is this correct?
3 answers
Also they asked for the rate of increase, not what percent the final figure is of the first one. Subtract 100% from the final to get the increase over the original.
Your 205 % is really 105 percent increase.
If you double something, that is 100% increase, not 200%.
Your 205 % is really 105 percent increase.
If you double something, that is 100% increase, not 200%.
Besides that, you performed a meaningles calculation.
The percentage increase is the
increase/original
= 2050019500
= 1.05
= 105% for the 40 years.
So the annual rate of salary increase
= 105% / 40 = 2.63%
you divided 20500 by 100
The percentage increase is the
increase/original
= 2050019500
= 1.05
= 105% for the 40 years.
So the annual rate of salary increase
= 105% / 40 = 2.63%
you divided 20500 by 100
2 answers