document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1179519>Question 1179519</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A man gets a raise of 12% in salary at end of first year and further raises of 16% ,19% and 25% at the end of second, third and fourth years respectively; the raise in each year being calculated on his salary at the beginning of the year. What is the average annual percentage increase?<BR>\n" );
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document.write( "The meaning of \"average annual percentage increase\" is not clear....<br><BR>\n" );
document.write( "With one interpretation, the average is simply<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%280.12%2B0.16%2B0.19%2B0.25%29%2F4=0.72%2F4=0.18 ALIGN=MIDDLE  ALT=\"%280.12%2B0.16%2B0.19%2B0.25%29%2F4=0.72%2F4=0.18\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 18%.<br><BR>\n" );
document.write( "More likely, the intended meaning is the following:<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281.12%29%281.16%29%281.19%29%281.25%29+=+1.93256 ALIGN=MIDDLE  ALT=\"%281.12%29%281.16%29%281.19%29%281.25%29+=+1.93256\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "That's an increase of 93.256% over the 4 years; the average increase is then<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=93.256%2F4+=+23.314 ALIGN=MIDDLE  ALT=\"93.256%2F4+=+23.314\"   DISABLED_style= \"max-width:90%; height:auto;\" > or 23.314% per year.<br><BR>\n" );
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document.write( "I agree that the third interpretation from tutor @ikleyn is also possible -- and also that it is the interpretation that is most likely to be the intended interpretation.<br><BR>\n" );
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