Question

An accountant used to charge $40 per hour, but recently decided to charge $42 per hour.

What was the percent of increase in the billing rate?

Answer 1

5 %

Explanation:

42 - 40 = 2

Increase:

$2

Then

2/40 = 0.05

0.05 * 100 = 5%

Answer 2

(42-40)/40 ^ 100 = 5%
percentage increase in the billing rate