A savings account grows from $1,600 to $1,712 over one year with no additional deposits. What is the percent increase?

Correct answer to question 154 (Arithmetic Reasoning): 7 percent

Method

Compare the growth to the starting balance. The account grew by 1,712 - 1,600 = 112 dollars, and 112 divided by 1,600 is 0.07, or 7 percent.