SOLUTION: A Sportsman earns a 7% raise. A year later, the sportsman receives a 3.5% cut in pay, & now he earns Rs. 55478.9115 Can you tell me how much the sportsman was earning before?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A Sportsman earns a 7% raise. A year later, the sportsman receives a 3.5% cut in pay, & now he earns Rs. 55478.9115 Can you tell me how much the sportsman was earning before?      Log On

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Question 423771: A Sportsman earns a 7% raise. A year later, the sportsman receives a 3.5% cut in pay, & now he earns Rs. 55478.9115 Can you tell me how much the sportsman was earning before?
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
let the sportsman earn ibitially x
increase in salary = 7%
His salary becomes x+0.07x= 1.07x
..
He gets a cut of 3.5%
His salary becomes 1.07x - 1.07x*0.035
His salary = 1.03x
1.03x = 55478.9115
Rs.53,863.0209.initially