The percent change in the number of employees from 115 to 124 is calculated by dividing the change in quantity (9) by the original quantity (115) and then multiplying by 100%. This results in approximately a 7.83% increase.
Step-by-step explanation:
To calculate the percent change in the number of employees for a company, we use the formula:
Percent Change = (Change in Quantity / Original Quantity) × 100%
Given that the company's employees increased from 115 to 124, the Change in Quantity is (124 - 115) = 9. The Original Quantity of employees is 115.
Now, applying the values to the formula:
Percent Change = (9 / 115) × 100% = 0.0783 × 100% ≈ 7.83%
Thus, the company experienced an approximate 7.83% increase in the number of employees over the course of the year.