Question

(Round to the nearest tenth of a percent.) In 2011, the IRS increased the deductible mileage cost to

55.5 cents from 51 cents.

Answer 1

Answer:

$\%Change = 8.8\%$

Step-by-step explanation:

Given

$Initial = 51\ cents$

$Final = 55.5\ cents$

Required

Determine the percentage change

Percentage change is calculated as;

$\%Change = \frac{Final - Initial}{Initial} * 100\%$

$\%Change = \frac{55.5 - 51 }{51 } * 100\%$

$\%Change = \frac{4.5}{51} * 100\%$

$\%Change = \frac{4.5* 100\%}{51}$

$\%Change = \frac{450\%}{51}$

$\%Change = 8.8\%$

Hence, the percentage change is approximately 8.8%