SOLUTION: An employee's annual salary was increased from $22,464.00 to $24,710.40 last year. If it is increased by the same percent this year, what will be the employee's salary? (A) $26,

Question 717764: An employee's annual salary was increased from $22,464.00 to $24,710.40 last year. If it is increased by the same percent this year, what will be the employee's salary?
(A) $26,782.64
(B) $27,181.44
(C) $27,438.52
(D) $27,982.64
Answer by jndarrell(58) (Show Source): You can put this solution on YOUR website!
First thing, find the amount of increase by subtracting the new from the original.
Increase: 2,246.40
To find the percent, place the increased amount over the original = to x/100
x is the percent we are looking for out of 100
2,246.40/22,464.00 = x/100
Cross Multiply
22,464x = 224,640 (be careful...the numbers look alike)
Divide both sides by the 22,464 to get x alone
x=10
So the amount of raise received was a 10%. You're not done. The question is asking for the new salary for this year if increased by the same percent you just found. Same set up. New/Original = 10/100 (we know the percent)
x/24710.40 = 10/100
Same steps
247,104=100x
x=2471.04 Increase this year
Add the increase to this years salary:
24710.40+2471.04=
$27181.44
This can get confusing, just always remember to look at what the question is asking you to find in comparison to what they gave you. Don't forget your units when reporting your solution!
:)
RELATED QUESTIONS
The salary of an employee was reduced by 40% first and then was increased by 50%. How... (answered by JBarnum)

clint's salary increased from 24,000 to 33,600 over a three year period. Helens salary... (answered by macston)

In the first year Ashok's salary was increased by 15%.In second year the salary increased (answered by stanbon)

The salary of an employee is increased by 20%. By what percentage should the new salary... (answered by richwmiller)

An employees old annual salary was $45,650 if this annual salary increased by 25% then... (answered by Cromlix)

An employees old annual salary was $45,650 if this annual salary increased by 25% then... (answered by mathmunchie13)

Basic Salary of an employee is Rs. 18,000 and Allowances are Rs. 9000. According to the... (answered by dkppathak)

Basic Salary of an employee is Rs. 18,000 and Allowances are Rs. 9000. According to the... (answered by Theo)

Bob is hired by an accounting firm at a salary of $60,000 per year. Three years later his (answered by josmiceli)