39. When Phil began his job, he could process 48 claims per day, on average. After 1 year, his average increased to 56 per day. Which of the following is closest to the percent increase in Phils processing rate?
Answer: C
Phil's processing rate increased by approximately 17%.
To calculate the percent increase in Phil's processing rate, we compare his average claims processed per day before and after one year. The formula for percent increase is ((new value - old value) / old value) * 100, which gives us ((56 - 48) / 48) * 100 = 16.67%, rounding to approximately 17%.
A) 14%
This option underestimates the percent increase. The calculation shows that the increase from 48 to 56 is 8 claims, which represents a percentage increase of 16.67%, not close to 14%.
B) 15%
While 15% is relatively close, it is still an inaccurate representation of the actual increase. The percent increase calculated is approximately 17%, making this option too low to be correct.
C) 17%
This option accurately reflects the percent increase calculated. The increase of 8 claims from 48 to 56 translates to a 16.67% increase, which rounds to 17%, making this the correct answer.
D) 20%
This option overestimates the percent increase. A jump from 48 to 56 claims per day does not equate to a 20% increase, as the actual calculation shows a percent increase of approximately 17%.
Conclusion
The correct answer, 17%, is derived from the precise calculation of the percent increase in Phil's processing rate. Options A, B, and D fail to accurately reflect this increase, either underestimating or overestimating the result, while Option C aligns perfectly with the computed value.