Question

A typical high-income household in 1980 earned $125,556. a similar household in 2009 earned $180,001. what was the relative increase in income for these households from 1980 to 2009? round to the nearest one percent. incorrect%

Answer 1

Our basis for the calculation of the relative increase is that which was earned in 1980. The equation that will be used in order to determine the unknown in this item is,
 
    d = ((180,001 - 125,556) / 125,556) x 100%

    d = 43.36%

Rounding this to the nearest one percent will give us an answer of 43%.