BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -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-2: -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.