## ASVAB Arithmetic Reasoning Practice Test 626261

Question 1 of 5
###### Percentages

Percentages are ratios of an amount compared to 100. The percent change of an old to new value is equal to 100% x $${ new - old \over old }$$.

Bob loaned Frank $300 at an annual interest rate of 9%. If no payments are made, what is the interest owed on this loan at the end of the first year? $56 $60$12 \$27