word problem

Question

A library expansion, begun in 2002, was expected to cost $ 109. million. By 2006, the library officials estimate the cost would be 38. million over budget. by what percent did the actual cost exceed the initial estimate?

Answer 1

If a project was estimated to cost $109 million and the overage was estimated at $38 million, that means that $38 million divided by $109 million would equal the overage in decimal form.  To get to the percentage, multiply the decimal form by 100%.

 

$38 million/$109 million ≈ 0.3486   ; dollar signs and millions cancel out

.3486 * 100% = 34.86%

 

This is the percent over budget the project went.  Kind of makes sense, since 35% of 100 million would be 35 million.