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If the unemployment rate decreased from 8% to 6% in a year, what is the percenta

Practice Questions

Q1
If the unemployment rate decreased from 8% to 6% in a year, what is the percentage decrease in the unemployment rate? (2023)
  1. 25%
  2. 20%
  3. 15%
  4. 30%

Questions & Step-by-Step Solutions

If the unemployment rate decreased from 8% to 6% in a year, what is the percentage decrease in the unemployment rate? (2023)
  • Step 1: Identify the old unemployment rate, which is 8%.
  • Step 2: Identify the new unemployment rate, which is 6%.
  • Step 3: Calculate the difference between the old rate and the new rate: 8% - 6% = 2%.
  • Step 4: Divide the difference by the old rate: 2% / 8% = 0.25.
  • Step 5: Convert the result into a percentage by multiplying by 100: 0.25 * 100 = 25%.
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