Joined: 05 Jun 2013
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Percentile question [#permalink]
21 Jun 2013, 08:20
Could someone help me understand this from the OG?
In the following example, the increase is greater than 100percent:
If the cost of a certain house in 1983 was 300 percent of its cost in 1970, by what percent did the cost increase?
If n is the costin 1970, then the percent increase is equal to 3n - n / n = 2, or 200%.
Why is this? Is this just a matter of nomenclature?
If something is 300 percent of its cost, doesn't that mean it is its cost * 300 percent? -- or a 300 percent increase?
Or is "percent increase" just always expressed as delta (n) / n ? (in which case it is 3n - n / n, regardless of the nomenclature confusion.
Also does this matter for the test?