Q9. - Algebra 1

Question

Jacob formed an advertising company in 1992. Initially, the company only had 14 employees. In 2008, the company had grown to a total of 63 employees. Find the percent of change in the number of employees working at Jacob ‘s company. Round to the nearest tenth of a percent if necessary.

Step-by-Step Solution

Answer

The percent of change in the number of employees working at Jacob’s company is 350%.

Step 1. Write the formula to find the percent of change in the number of employees working at Jacob’s company.

The formula to find the percent of change in the number of employees working at Jacob’s company is:

$\frac{\text{Final number of employees}-\text{Initial number of employees}}{\text{Initial number of employees}}\times 100\%$

Step 2. Find the percent of change in the number of employees working at Jacob’s company.

The percent of change in the number of employees working at Jacob’s company is given by:

$$\begin{gathered} \frac{\text{Final number of employees}-\text{Initial number of employees}}{\text{Initial number of employees}}\times 100\%=\frac{63-14}{14}\times 100\% \\ =\frac{49}{14}\times 100\% \\ =\frac{7}{2}\times 100\% \\ =3.5\times 100\% \\ =350\% \end{gathered}$$

Therefore, the percent of change in the number of employees working at Jacob’s company is 350%.