SOLUTION: How do I solve this problem? 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 r

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: How do I solve this problem? 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 r      Log On


   

Question 38720: How do I solve this problem?
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?
Thanks, She
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
(14.25-12.375)/12.375 OR 1.875/12.375 OR THE INCREASE IS 15.1515%