The total real estate commission for a real estate company was $21 million in 2008, an increase of $1 million over the year 2004. What was the percent increase? Round answer to the nearest tenth of a percent.

Question

Quizplus · Accepted Answer

The percent increase is calculated as (change in commission / original commission) * 100%. In this case, the change in commission is $1 million and the original commission is $21 million, so the percent increase is (1 / 21) * 100% = 4.76%. Rounding to the nearest tenth of a percent gives 4.8%, which is closest to choice A, 5.0%.

The Total Real Estate Commission for a Real Estate Company