Question

Consumers are paying record amounts of foes for overdrawing their bank accounts. In 2007, banks, thrifts, and credit unions collected $45.2 billion in overdraft fees, which is $14.7 billion more than in 2001. What is thepercent of increase?

Answer 1

In this problem

In 2007 ------> $45.2 billion

In 2001 -----> $45.2 billion-$14.7 billion=$30.5 billion

so

$30.5 billion -------> represent 100%

applying proportion or rule of three

$30.5 billion -------> represent 100%

$14.7 billion -------> x

x=14.7(100)/30.5

x=48.2%

therefore

the percent of increase is 48.2 %