BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$23, 204.49
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$34, 144.80
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$44, 187.70
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$33, 930
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Detailed explanation-1: -Here is an example to help you understand: Suppose your monthly salary was ₹30, 000 and your new salary is ₹36, 000. The salary increase would be ₹35, 000-₹30, 000 = ₹6, 000. Here, the hike percentage would become (₹6, 000100) / ₹30, 000 = 20%.
Detailed explanation-2: -Let’s start with our example of an employee making $52, 000. Using our formula, a 3 percent raise would look like this: $52, 000 X . 03 = $1, 560 raise over the course of the year.
Detailed explanation-3: -First, consider an example of a salary percentage increase. Say your salary is $50, 000 and you were offered a salary hike amounting to a 20% increase of your current pay. To calculate your new salary after the raise do: $50, 000 + $50, 000 * 20 / 100 = $50, 000 + $50, 000 * 0.2 = $50, 000 + $10, 000 = $60, 000.