A library expansion, begun in 2002, was expected to cost $101 million.

1.	A library expansion, begun in 2002, was expected to cost $101 million. By 2006, library officials estimate the cost would be $45 million over budget. By what percent did the actual cost exceed the initial estimate?
Answer» The EXCESS $45 million dollar overage AMOUNT is relative to the the initial $101 million dollar budget amount. So the percentage INCREASE will be this FRACTION EXPRESSED as a percent: (overage amount / budget amount) x 100% (45/101) x 100 = 4500/101 = 44.6%

A library expansion, begun in 2002, was expected to cost $101 million. By 2006, library officials estimate the cost would be $45 million over budget. By what percent did the actual cost exceed the initial estimate?

Answer»

The EXCESS $45 million dollar overage AMOUNT is relative to the the initial $101 million dollar budget amount.

So the percentage INCREASE will be this FRACTION EXPRESSED as a percent:

(overage amount / budget amount) x 100%

(45/101) x 100 = 4500/101 = 44.6%

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A library expansion, begun in 2002, was expected to cost $101 million. By 2006, library officials estimate the cost would be $45 million over budget. By what percent did the actual cost exceed the initial estimate?

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