The deductible mileage cost has reduced by 2.16%
What is a percentage change?
A percentage change compares the difference between the new amount and the old amount to the old amount.
I mean the percentage change is the new deductible mileage cost minus the old deductible mileage cost divided by the old deductible mileage cost
New deductible mileage cost= 57.5 cents
Old deductible mileage cost= 56 cents
percentage decrease=(56-57.5)/57.5
percentage decrease=-2.61%
The negative sign in -2.61% means that there was a percentage decrease in deductible mileage cost by 2.61%
In essence, the deductible mileage cost has been reduced by 2.16%
Hundredth of a percent means two decimal places.
Find out more on percent change on:https://brainly.com/question/2085058
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