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- Percent difference download#
The second step is to add the increase in percentage points to the original rate to get the new rate of 3.03%. Therefore, you must first multiply the percentage increase (1%) by the original interest rate (3%) to get the increase in percentage points (0.03). In this case, the bank increases the interest rate by one percent of the original interest rate. When 3% increases by one percent, it gets to 3.03%, because one percent of 3% is 0.03 percentage points. When 3% increases by one percentage point, it gets to 4%. What is the new interest rate in each scenario? Which is better? The bank increases the interest rate by one percent.
The bank increases the interest rate by one percentage point. Let's say you have money in a savings account. With percent, you must first divide one rate by the other (which is the same thing as expressing one rate as a percentage of the other rate). With percentage points, you are directly subtracting one rate from the other. The expression "percentage point of something" makes no sense. With percentage points, there is no of what. With percent, you always need to know of what. One percent (one hundredth) of country A unemployment rate (0.05%) is a different number than one percent of country B unemployment rate (0.20%). Notice how with percentage points we always used the same number (15), regardless of the direction of the comparison, while with percent, the numbers were different, depending on the base of the comparison. The minus sign indicates that it is smaller than rather than greater than. The calculation (same steps as above: first divide, then subtract 1): You could also say: Country A unemployment rate is by three fourths smaller than country A rate. Therefore, the difference in percent of country B rate is the difference between 25 and 100 (percent of country B rate):Ĭountry A unemployment rate is by 75 percent smaller than country A unemployment rate. Country B rate is 100% of country B rate. In other words, country A rate is 25 percent, or one fourth, of country B rate. The fastest way to get to this number is by dividing the two rates and subtracting 1:ģ = 300% Difference in Percent of Country B RateĬountry A unemployment rate is four times smaller than country B rate. Therefore, the difference in percent of country A rate is the difference between 400 and 100 (percent of country A rate):Ĭountry B unemployment rate is by 300 percent greater than country A unemployment rate. Country A rate is of course 100% of country A rate, as any quantity is 100% of itself. In other words, country B rate is 400% of country A rate. Difference in Percent of Country A RateĬountry B unemployment rate (20%) is four times greater than country A unemployment rate (5%). You can either express the difference in percent of country A unemployment rate or in percent of country B unemployment rate. There are again different correct ways to say it, and notice the numbers are now different. We can also say the correct answer using the word "percent". 
The definition of percentage point is a unit of arithmetic difference of two percentages. Percentage points are about subtracting percentages. The difference between country A and country B unemployment rates is 15 percentage points.Ĭountry B unemployment rate is by 15 percentage points greater than country A unemployment rate.Ĭountry A unemployment rate is by 15 percentage points smaller than country B unemployment rate. The correct answer is any of the following. Most people would immediately say "fifteen percent", which is not entirely correct. What is the difference between the two unemployment rates? Let's say country A has unemployment rate of 5%, while country B has unemployment rate of 20%.
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Percent difference download#
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