if salary increased by 10% last year and then 8% this year. and original salary was $50,000 per year. what is present salary since he has received the two raises? find the relative change between his original salary and his present salary.
overall his present salary is what % more than his original salary and his present salary is what % of his original salary. HELP
1.1 * 50,000 = 55,000
1.08 * 55,000 = 59,400
59,400/50,000 = ?
overall, his present salary is what % more than his original salary. and his present salary is what % of his original salary.
Solve last equation, get rid of the first 1, and convert to percentage.
To find the present salary after the two raises, we need to calculate the increase for each year and then add it to the original salary.
First, let's calculate the increase for each year:
1. Increase in the first year (10% of $50,000) = 10/100 * $50,000 = $5,000
2. Increase in the second year (8% of ($50,000 + $5,000)) = 8/100 * ($50,000 + $5,000) = $4,400
Now, let's add these increases to the original salary:
Present salary = $50,000 + $5,000 + $4,400 = $59,400
To find the relative change between the original salary and the present salary, we can use the formula:
Relative Change = (New Value - Old Value) / Old Value * 100
Old Value = $50,000
New Value = $59,400
Relative Change = ($59,400 - $50,000) / $50,000 * 100 = 18.8%
So, the present salary is 18.8% more than the original salary.
To calculate the percentage of the present salary from the original salary, we can use the formula:
Percentage = (Present Value / Old Value) * 100
Present Value = $59,400
Old Value = $50,000
Percentage = ($59,400 / $50,000) * 100 = 118.8%
Therefore, the present salary is 118.8% of the original salary.