A company gives raises once a year. Amir's present salary is $12,000. His manager would like to raise his salary to $84,000. What percentage raise would he be recieving.
First - What percent is the new salary of the old salary?
100 * (84/12) = 700% Now that was not the question. The question was how much was the "raise" so we subtract off the original 100% and get 600% more than the original.
It is easier to understand if you just consider a 100% raise. That is a doubling so the new is 200% of the old.
To calculate the percentage raise Amir would be receiving, we need to find the difference between his current salary and the desired salary, and then divide that by his current salary. Here's how you can do it step by step:
Step 1: Calculate the raise amount.
Raise amount = Desired salary - Current salary
Raise amount = $84,000 - $12,000
Raise amount = $72,000
Step 2: Calculate the percentage raise.
Percentage raise = (Raise amount / Current salary) * 100
Percentage raise = ($72,000 / $12,000) * 100
Percentage raise = 600%
Therefore, Amir would be receiving a 600% raise.