Question

A hospital bill is estimated to be $462.00. It ends up actually costing the patient $525.00. What is the percent error in the bill?

Answer 1

In order to find the percent error, we need to first find the difference between what was expected and what is actually costed. We do this by subtracting:

$525-462=63$

So now we know that the expected amount was off by $63. To find the percent error, we need to take this $63, and divide it by the amount that was estimated. Let's do that now:

$\frac{63}{462}=0.1364$

However this is in decimal form. We need to multiply by 100 in order to get it in a percent:

$0.1364*100=13.64%$

Now we know that the percent error of the hospital bill estimate is 13.64%.