Section: Mathematics

21) If "basis points" are defined so that 1 percent is equal to 100 basis points, then 75.5 percent is how many basis points greater than 65.5 percent?

.01
.10
10
100
1000
No Answer Selected

Explanation

There is a difference of 10 percent between 75.5 percent and 65.5 percent. If 1 percent equals 100 basis points, then 10 percent equals 10(100) or 1,000 basis points.