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Example: Finding the Percent Increase in Deductible Mileage
Apply the process for finding percent change to a real-world scenario. Problem: In 2011, the IRS increased the deductible mileage cost to cents from cents. Find the percent change, rounded to the nearest tenth of a percent. 1. Find the amount of change: Subtract the original amount from the new amount: . 2. Find the percent: The amount of change is what percent of the original amount? Let = the percent. Translate " is what percent of ?" into the equation: . 3. Solve: Divide both sides by to get . 4. Convert to percent form and round to the nearest tenth: . The percent change is an increase.
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