Question

The population of monkeys is decreasing at an annual rate of 3% per year.

What is the monthly rate of decrease? Round to the nearest hundredth of a percent.

Answer 1

Since there are 12 months in a year, you would divide 3%, which is 0.3 converted to decimal, by 12

0.3 divided by 12 = 0.025

To round that answer by the nearest hundredth, you would look at the last digit.

Since that digit is a five, your rounded answer would be 0.03

ANSWER: 0.03%

Answer 2

Answer: 0.25%

Explanation:

There are 12 months in a year so you would divide 3%/12.

3% as a decimal is 0.03, so 3%/12 = 0.03/12

0.03/12 = 0.0025

To convert a decimal to a percent you can just multiply by 100.

So, 0.0025 x 100 = 0.25%. The percent does not need to be rounded to the nearest hundred because there are no digits past the hundredths place.

To check our answer, we can do 0.25% x 12 = 3%. The annual rate is 3% per year so this answer is correct.