document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=248915>Question 248915</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Mr. Goyal receives a 10% raise every year. His salary after four such raises<BR>\n" );
document.write( "has gone up by what percent ?<BR>\n" );
document.write( "(A) less than 10% (B) 40% (C) 44% (D) more than 45% </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #181373 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=181373\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> (1.10)^4 = 1.4641\r<BR>\n" );
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document.write( "His salary has gone up 46.41% which is more than 45% so your answer is selection (D).\r<BR>\n" );
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document.write( "Here's what happened.\r<BR>\n" );
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document.write( "Assume his salary was $30,000 a year.\r<BR>\n" );
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document.write( "At the end of the first year it became $30,000 * 1.10 = $33,000\r<BR>\n" );
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document.write( "At the end of the second year it became $33,000 * 1.10 = $36,300\r<BR>\n" );
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document.write( "At the end of the third year it became $36,300 * 1.10 = $39,930\r<BR>\n" );
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document.write( "At the end of the fourth year it became $39,930 * 1.10 = $43,923\r<BR>\n" );
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document.write( "$43,923 minus $30,000 is an increase of $13,923\r<BR>\n" );
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document.write( "$13,923 / $30,000 is an increase proportion of .4641 * 100% equals an increase percent of 46.41%.\r<BR>\n" );
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document.write( "This is the same as $30,000 * (1.10)^4 = $30,000 * 1.4641 = $43,923.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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