7.99% + 1.50% =

I FORGOT HOW TO DO THIS, HOW DO YOU ADD TWO PERCENTAGES TOGETHER? SAY I HAVE AN INTEREST RATE OF 7.99%, AND THE INTEREST RATE WILL GO UP AN ADDITIONAL 1.50%  IS THE ANSWER 9.49 PERCENT OR 9.99 PERCENT?
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It depends on whether the additional information is just another way of saying "the interest rate has risen by a further 1.50%", implying simple addition, or "the interest has risen by 1.50% [of 7.99%]", implying multiplication. In the first case, the new rate is 7.99+1.50=9.49%; in the second case the new rate is 7.99% + 1.5% of 7.99%=7.99*1.015=8.11% approx.

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