ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Finally, consider an hourly pay example. If your current rate is $20/h and you are offered a 10% increase, your new hourly rate can be calculated like so: $20 + $20 * 10 / 100 = $20 + $20 * 0.1 = $20 + $2 = $22.

Detailed explanation-2: -How do I calculate a 10% increase? Divide the number you are adding the increase to by 10. Alternatively multiply the value by 0.1. Add the product of the previous step to your original number.

Detailed explanation-3: -Answer: 10% of 20 is 2. Let’s find 10% of 20.

Detailed explanation-4: -What is the percentage change from 20 to 10? 10 is a 50% decrease of 20. Indeed, we have (10-20) / 20 =-0.5 and-0.5 × 100% =-50%, which corresponds to a 50% decrease.