AnswersFinancial MathExpenses — QuizQuestion 10
10
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Expenses — Quiz

Question 10 • Financial Math

Jaylon owns a bookstore and recorded the expenses for books in two consecutive quarters. In the first quarter, the books cost $⁢1,000 In the second quarter, he spent $⁢1,240 on books. What is the percent increase in expenses for books from the first quarter to the second quarter?

Answer
A
4 percent
B
40 percent
C
24 percent
D
0 point 2 4 percent

Explanation

Subtract the first-quarter cost from the second-quarter cost: $1,240 − $1,000 = $240. Divide the increase by the original cost and multiply by 100: ($240 ÷ $1,000) × 100 = 24%. The percent increase is 24 percent, choice C.

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