Does $\frac{\text{clockrate}(P_2)}{\text{clockrate}(P_1)}=1.37$ say that $P_2$ is $37\%$ faster than $P_1$, or the opposite?

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Sorry for the trivial question, but ...

Does this ratio say $P_2$ is $37\%$ faster than $P_1$, or the opposite? $$\require{cancel} \frac{ClockRate(P_2)}{ClockRate(P_1)} = \left(\frac{(1.2 \times 10^9) \cdot 1.25 }{\cancel{\text{CPUTime}}}\right) \cdot \left(\frac{\cancel{\text{CPUTime}}} { 10^9 \times 1.1}\right)= 1.37$$

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Since: $$P_2 = 137\% P_1$$ and we are talking about rates, this means that rate $P_2$ is faster!