Question

an employee's hourly raise went up from $10 per hour to $12 per hour. what is the rate of increase

Answer 1

INITIAL WAGE: $10

FINAL WAGE: $12

INCREASE: $12 - $10= $2

INCREASE RATE:

$100 \times \frac{increase}{final \: wage}$

$100 \times \frac{2}{12}$

=50/3% or 16.37%