Question

Your utility expense grew from $233 to $267. In the same period, your staffing expense grew from $1,266 to $1,411. Which expense had the higher percentage growth rate?
a) Utilities
b) Staffing
c) Growth rate was the same
d) Can't tell from the data

Answer 1

Increase in utilities = 267 - 233 = 34

For $233, increase = $34

For $100, increase = $\frac{34}{233} (100)$

= 14.59%

Increase in staffing expense = 1411 - 1266 = 145

For $1266, increase = $145

For $100, increase = $\frac{145}{1266} (100)$

=11.45%

Hence, utilities had the higher percentage growth rate.