Describe each of the following changes in two ways as an abs

Describe each of the following changes in two ways: as an absolute change in terms of percentage points and as a relative change in terms of a percentage. The annual interest rate for Jack\'s savings account increased from 2.3% to 2.8%. The percentage of Republicans in the House of Representatives increased from 40.9% in 2010 to 55.6% in 2012.

Solution

69)given annual rate of interest is increased from 2.3 to 2.8

absolute change in percentage =2.8-2.3=0.5%

releative change in %=((2.8-2.3)*100)/2.3=0.5*100/2.3=21.79%

70)given % of republicans in house of representative has been increased from 40.9 to 55.6%

absolute change in percentage = final percentage -intial=55.6-40.9=14.7%

releative change in %=(final percentage -intial)*100/intial=(55.6-40.9)*100/40.9=35.9413%