The share of a bank's deposits held in savings accounts rose from 24% of all deposits to 30% of all deposits in one year, the total deposits being the same on both dates. The money held in savings accounts therefore rose by what percent?

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Accepted Answer

25. On total deposits of 100, savings went from 24 to 30, a rise of 6 on a base of 24, that is 6/24 = 25%. The figure 6 is the rise in percentage POINTS, not a percent rise; 6/30 = 20% divides by the new share instead of the old one, which is the base the increase is measured from.

The share of a bank's deposits held in savings accounts rose from 24% of all deposits to 30% of all deposits in one year, the total deposits being the same on both dates. The money held in savings accounts therefore rose by what percent?

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