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Yep, that's how it works.
Be aware that taller tires are heavier and have more of that mass farther from the center of rotation, and thus will impact city fuel economy a bit differently (more) because of increased rotating mass - it effectively makes your truck a lot "heavier". However, 5% bigger tires will affect RPM in the same way that 5% taller gearing does, and will be effectively identical on the highway (all else equal) where you won't be accelerating and decelerating.
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