SOLUTION: Mira’s company announced a 2.5% raise for everyone this year. If Mira’s new salary is $40,000 a year, what was Mira’s old salary?

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: Mira’s company announced a 2.5% raise for everyone this year. If Mira’s new salary is $40,000 a year, what was Mira’s old salary?      Log On


   

Question 1067482: Mira’s company announced a 2.5% raise for everyone this year. If Mira’s new salary is $40,000 a year, what was Mira’s old salary?
Answer by stuylin(8) About Me  (Show Source):
You can put this solution on YOUR website!
Mira's new salary = Mira's old salary + Mira's old salary * 2.5%
$40,000 = Mira's old salary + Mira's old salary * 0.025
$40,000 = Mira's old salary * (1 + 0.025)
$40,000 = Mira's old salary * 1.025
Mira's old salary = $40,000 / 1.025
Mira's old salary = $39024.3902 --> to the nearest cent = $39,024.39