Question

on jan 22 0217 the cost to mail a letter in the us was raised from 47 to 49 centrs. find the relative change in the cost

Answer 1

The relative change is 2%.

What is relative change?

In contrast to the reference value, the absolute change's size is expressed as a fraction called the relative change: relative change = absolute change reference value = new value reference value reference value. The absolute change is expressed as a percentage of the value of the indicator in the prior period, or "relative change" expresses the absolute change as such. When measuring indicators in percentage terms, such as the unemployment rate, absolute and relative change principles also apply. To determine the absolute change, subtract the starting value from the ending value. Simply deduct 1,000 from 1,100 to arrive at 100 in the example. The student population increased by 100 pupils throughout the course of the year because this is the absolute change.

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