Question

I need help ASAP please!

In February 2018 there were 7.9 million people looking for work. This was a 0.9% change from the previous month and a -2.7% change from a year ago.

Round answer to the nearest 100ths, two decimal places.

1) How many people were looking for work in January 2018?

2)How many people were looking for work in February 2017?
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Answer 1

• Jan 2018: 7.83 million
• Feb 2017: 8.12 million

Explanation:

Your "Grandma formula" tells you ...

N = G(1 +x/100)

Solving for G gives ...

G = N/(1 +x/100) . . . . . . G = old value; N = new value; x = % change

For this problem, N=7.9 million.

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1) x = 0.9, so G = 7.9/(1 +.9/100) ≈ 7.83 . . . million

7.83 million people were looking for work in January 2018.

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2) x = -2.7, so G = 7.9/(1 -2.7/100) ≈ 8.12 . . . million

8.12 million people were looking for work in February 2017.