An employee's new salary is $18,165 after getting a 5% raise. What was the salary before the increase in pay?
1.05x = 18165
1730000
To find the employee's salary before the increase in pay, you can use the formula:
Previous Salary = New Salary / (1 + Percentage Increase)
In this case, the new salary is $18,165, and the percentage increase is 5%.
Substituting the values into the formula:
Previous Salary = $18,165 / (1 + 0.05)
Calculating the expression inside the parentheses:
Previous Salary = $18,165 / 1.05
Dividing the new salary by 1.05:
Previous Salary ≈ $17,300.
Therefore, the salary before the increase in pay was approximately $17,300.