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Chapter 2: Q. 2.45 (page 123)

Find the percent change. (Round to the nearest tenth of a percent.) In 2011, the IRS increased the deductible mileage cost to 55.5 cents from 51 cents.

Short Answer

Expert verified

8.8% will be the percentage change.

Step by step solution

01

Step 1. Assume the percentage,

Let the percentage change =p%

02

Step 2. Form the equation for the statement given in the question,

Statement given in the question, "IRS increased the deductible mileage cost to 55.5cents from 51cents".

Change in mileage cost = 55.5-51=4.5cents

Equation for the statement will be,

p%of 51=4.5

p100脳51=4.5

0.51p=4.5

03

Step 3. Divide the equation by 0.51,

0.51p0.51=4.50.51

p=8.824%

p鈮�8.8%

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