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Paul paid $3,150.42 on insurance premiums in 2011. His insurance premiums rose to $4,960.08 in 2012. What was the percentage increase in his insurancepremiums from 2011 to 2012 (to the nearest whole percent)?45% increase39% increase61% increase55% increaseNone of these choices are correct.

Respuesta :

To determine the percentage increase, we compute the difference in the insurance premium in 2011 and 2012. We have

[tex]\$4960.08-\$3150.42=\$1809.66[/tex]

We then divide this value by the initial insurance premium and multiply it by 100%. We have

[tex]\frac{\$1809.66}{\$3150.42}\times100\%=57\%[/tex]

The percentage increase in his insurance is 57%.

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