SOLUTION: If I made 122,000 dollars this year and that was a 7% increase from last year, what was I paid last year? 122,000 * 0.07 = 8540 122,000-8540 = 113,460 113,460 * 0.07 = 7942.2

SOLUTION: If I made 122,000 dollars this year and that was a 7% increase from last year, what was I paid last year? 122,000 * 0.07 = 8540 122,000-8540 = 113,460 113,460 * 0.07 = 7942.2

Algebra.Com

Question 459991: If I made 122,000 dollars this year and that was a 7% increase from last year, what was I paid last year?
122,000 * 0.07 = 8540
122,000-8540 = 113,460
113,460 * 0.07 = 7942.2
113,460 + 7942.2 does not equal 7% increase
How do I find the 7% increase?

Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
the 122k is 107% of last year's salary

122000 / 1.07 = ?
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