Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Exercise 268

Solve for rate in the following application problem. Round to the nearest tenth of a percent. (See Examples.)
Finding the Rate of Return
An investment officer at Graham Bank placed $3,000,000 in a government security. It remained there for one year and earned $48,000 in interest. Find the rate of return.
SOLUTION
The whole is $3,000,000 and the part is $48,000. Find the rate as follows.

The investment earned 1.6, for the year.
Solving for the Percent Remaining
One of the toughest races in the world is the 26.2-mile-long marathon. After running 22 miles, Sheila James is exhausted. Find the percent of the race that she must still run.
SOLUTION
Distance yet to be run = 26.2 ? 22 = 4.2 miles

James still has to run 16, of the total distance.
ADVERTISING EXPENSES Advertising expenditures for Bailey's Roofers are as follows. ________________
What percent of the total advertising expenditures is spent on radio advertising? ________________