If an agency's budget utilization rate increases from 5% to 8%, what is the percentage increase in the rate?
Answer and explanation
Correct answer: C. 60%
- Step 1: The change is 3 percentage points (8 - 5 = 3). Step 2. The percentage increase is the change relative to the initial value: (3 / 5) 100% = 0.60 100% = 60%. *Answer: 60%, calculating the relative change ((8 - 5) / 5) 100%. Why not the others:** 3% represents percentage points, not percent change; 37.5% divides by 8.
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