In which year did the greatest percent increase in filings occur?
Percent increase is figured by the formula
(New value minus old value)÷(old value)×100%
In 1997 the number of bankruptcies was 14 thousand
In 1998 the number of bankruptcies was 16 thousand, which was an
increase over the 14 thousand in 1997 of 16-14 or 2 thousand. The
percent increase was 2÷14×100% = 14.3%, approximately
In 1999 the number of bankruptcies was 21 thousand, which was an
increase over the 16 thousand in 1998 of 21-16 or 5 thousand. The
percent increase was 5÷16×100% = 31.3%, approximately
In 2000 the number of bankruptcies was 24 thousand, which was an
increase over the 21 thousand in 1990 of 24-21 or 3 thousand. The
percent increase was 3÷21×100% = 14.3%, approximately
In 2001 the number of bankruptcies was 30 thousand, which was an
increase over the 24 thousand in 2000 of 30-24 or 6 thousand. The
percent increase was 6÷24×100% = 25%, exactly.
So the greatest percent increase in filings was in 1999 with 31.3%
approximate percentage increase over the 16 thousand filed the
year before in 1998.
Edwin
