Mr. Hamm's salary has increased by 250% over the past 10 years. If his original salary was $28,000 per year, what is his current salary?
A) $35,000
B) $37,500
C) $70,000
D) $98,000
28,000(1+2.5) = 98,000
70,000 is 250% of 28000, but that means that it increased by 150%. Gets kinda tricky, if you're not careful with the wording.
I had put 70,000 but they computer said the correct answer was 98,000.
To find Mr. Hamm's current salary, we need to calculate a 250% increase from his original salary of $28,000.
Step 1: Calculate the amount of the increase
250% of $28,000 can be found by multiplying $28,000 by 250% (or 2.50).
$28,000 * 2.50 = $70,000
Step 2: Calculate the current salary
To find the current salary, we need to add the increase to the original salary.
$28,000 + $70,000 = $98,000
Therefore, Mr. Hamm's current salary is $98,000.
The correct answer is D) $98,000.