Question

An employees hourly raise went up from $10 per hour to $12 per hour. What is the rate of increase?

Answer 1

20% because:

rate of Increase = ( final - initial ) / initial * 100

rate of increase = ( 12 - 10 ) / 10 * 100

rate of Increase = 2 / 10 * 100

rate of Increase = 20