Question

jaylon owns a bookstore and recorded the expenses for books in two consecutive quarters. in the first quarter, the books cost $1,000. in the second quarter, he spent $1,240 on books. what is the percent increase in expenses for books from the first quarter to the second quarter? 40% 24% 4% 0.24%

Explanation:

Step1: Identify initial and final values

Initial expense (first - quarter) is $1000, final expense (second - quarter) is $1240.

Step2: Use percent - increase formula

Percent increase=$\frac{\text{Final value}-\text{Initial value}}{\text{Initial value}}\times100\%$. Substitute values: $\frac{1240 - 1000}{1000}\times100\%$.

Step3: Calculate the numerator

$1240−1000 = 240$. So we have $\frac{240}{1000}\times100\%$.

Step4: Simplify the fraction and multiply by 100%

$\frac{240}{1000}=0.24$, and $0.24\times100\% = 24\%$.

Answer:

24%