Andrew started saving at the beginning of the year and had saved $240 by the end of the year.
Andrew started saving at the beginning of the year and had saved $240 by the end of the year. He continued to save and by the end of 2 years had saved a total of $600. Which of the following is closest to the percent increase in the amount Andrew saved during the second year compared to the amount he saved during the first year?
Answer/Solution
50%
Steps/Work
Percent increase in the amount Andrew saved during the second year compared to the amount he saved during the first year.
Percentage Change = ( Change in value / Original value ) * 100
Percentage Change = [ (Saving in 2nd year - Saving in 1st year ) / Saving in 1st year ] * 100
Saving in 2nd year + Saving in 1st year = 600
Saving in 2nd year + 240 = 600
Saving in 2nd year = 600 - 240 = 360
Change in Value = 360 - 240 = 120
Original Value = 240
Percentage Increase = (120 / 240 ) * 100
= (1/2 ) * 100 = 50 % ..... Answer D......
Percentage Change = ( Change in value / Original value ) * 100
Percentage Change = [ (Saving in 2nd year - Saving in 1st year ) / Saving in 1st year ] * 100
Saving in 2nd year + Saving in 1st year = 600
Saving in 2nd year + 240 = 600
Saving in 2nd year = 600 - 240 = 360
Change in Value = 360 - 240 = 120
Original Value = 240
Percentage Increase = (120 / 240 ) * 100
= (1/2 ) * 100 = 50 % ..... Answer D......