SOLUTION: The interest rate on an auto loan in May was 12 3/8%. By September the rate was up to 14 1/4 %. How many percentage points did the interest rate increase over the period? Plea

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Question 108080: The interest rate on an auto loan in May was 12 3/8%. By
September the rate was up to 14 1/4 %. How many percentage points did the interest rate increase over the period?
Please can someone help me with this percentage and fraction problem??
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
14.25/12.375=1.1515 OR A 15.15 % INCREASE.