An employee started on a salary of £ 6,000 per annum and received a constant increment. If he earned a total of £ 32,400 by the end of five years, calculate his annual increment
His increments each year were
0,x,2x,3x,4x, summing to 10x
So, 10x = (32400-6000)/5
528
To calculate the annual increment, we need to determine the total increment received over the five years and divide it by the number of years.
The total increment can be calculated by subtracting the initial salary from the total earnings over five years:
Total Increment = Total Earnings - Initial Salary
= £32,400 - £6,000
= £26,400
To find the annual increment, we divide the total increment by the number of years:
Annual Increment = Total Increment / Number of Years
= £26,400 / 5
= £5,280
Therefore, the annual increment received by the employee is £5,280.
To calculate the annual increment, we need to find the difference between the ending salary and the starting salary, and then divide it by the number of years.
The ending salary can be calculated by adding the total earnings to the starting salary. In this case, the total earnings are given as £32,400, and the starting salary is £6,000.
Ending Salary = Starting Salary + Total Earnings
Ending Salary = £6,000 + £32,400
Ending Salary = £38,400
Now, we can calculate the annual increment.
Annual Increment = (Ending Salary - Starting Salary) / Number of Years
Number of Years = 5
Annual Increment = (£38,400 - £6,000) / 5
Annual Increment = £32,400 / 5
Annual Increment = £6,480
Therefore, the employee's annual increment is £6,480.