Question

What is the percentage of growth?

In the first quarter of 2010, U.S. advertisers spent $5.9 billion on online advertising. In the first quarter of 2011, they spent $7.3 billion. What is the percentage rate of growth? (Round to one percentage place.)

Answer 1

24%

Step-by-step explanation:

Percentage change is computed as follows. When it is positive, it represents growth or increase. When it is negative, it represents decrease or decline.

... percent change = ((new value) - (old value))/(old value) × 100%

... = (7.3 -5.9)/5.9 × 100%

... = 1.4/5.9 × 100%

... ≈ 0.2373 × 100%

... ≈ 24% . . . . . rounded to nearest whole percent

Since the time difference is 1 year, this is the annual growth rate.