Question

What is the decimal multiplier to increase by 3%?

Answer 1

1.03

Explanation:

Whole = 100%

Increase by 3%

i.e. (100 + 3)%

= 103%

103/100 = 1.03

Answer 2

1.03

Explanation:

When you increase a quantity by 3%, you end up with 103% of it. The decimal for 103% is 1.03 (one and three hundredths).

Example: Increase $6.00 by 3%

(6.00)(1.03) = 6.18