Question

A small business earns a profit of $6,500 in January and $17,500 in May. What is the rate of change in profit for this time period?

Answer 1

The formula is New÷Old -1. So it would be 6500 (new) ÷ 17,500 (old) - 1. 6500 ÷ 17,500 = 0.371428...,Then you would subtract one from it = -0.628571.. After that, you would move the decimal 2 times =62.8571. Finally you would round it. The answer would be 62.9%! Hoped this helped you!