SOLUTION: The electricity costs of a business increased from $15,000 one year to $16,000 the next. To the nearest whole percent, what was the rate of increase?

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Question 289677: The electricity costs of a business increased from $15,000 one year to $16,000 the next. To the nearest whole percent, what was the rate of increase?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
(16,000-15,000)/15,000
1,000/15,000=.066666 or 7% increase.