SOLUTION: When Milo got promoted at work, he received a 5% pay raise. He now earns $71,400 per year. What was his annual salary before his raise?

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Question 526107: When Milo got promoted at work, he received a 5% pay raise. He now earns $71,400 per year.
What was his annual salary before his raise?
Answer by Maths68(1474) About Me  (Show Source):
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When Milo got promoted at work, he received a 5% pay raise. He now earns $71,400 per year.
What was his annual salary before his raise?

Let
His annual salary was = x
5% of x = 5/100 * x
5% of x = 5x/100
Total Salary before raise + 5% increase = Total Salary Now
x+5x/100 = 71400
Multiply by 100 both sides
100x+5x=71400 * 100
105x=7140000
x=7140000/105
x = 68000

His salary before raise was = $68000





2nd Method
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Let
His annual salary was = x
105% x = 71400
105/100 * x = 71400
x = 71400 * 100/105
x = 7140000/105
x = 68000
His salary before raise was = $68000