Question

What single percentage change is equivalent to a 7% increase followed by a 22% increase

Answer 1

Answer:

Single increase rate = 29.47%

Step-by-step explanation:

Given:

First increase rate = 7%

Second increase rate = 21%

Find:

Single increase rate

Computation:

Assume number is a

So,

First increase rate = 7%

a + 7%

= 1.07a

Second increase rate = 21%

1.07a + 21%

1.2947a

So,

Single increase rate = 1.2947 - 1

Single increase rate = 0.2947

Single increase rate = 29.47%