Mr Ngate is a consultant with Mitsumi Computer Garages.At the end of the first month ,his basic salary was Ksh 88400 and his monthly salary during the last month of the contract was Ksh 117800.By the end of the contract,he earned a total salary of Ksh 824800.Mr Ngate contract was extended after the period of 8 months for a further 4 months.In his extension his monthly basic salary was increased by 4%every month.Determine the total salary that he earned by the end of the year.Give your answer to the nearest Ksh 1
To find the total salary Mr Ngate earned by the end of the year, we need to calculate his salary for the first 8 months, the extended 4 months, and add them together.
First, let's calculate his salary for the first 8 months:
Month 1 salary: Ksh 88,400
Last month salary: Ksh 117,800
Total salary for 8 months = (88,400 + 117,800) * 8 = 1,406,400
Now, let's calculate his salary for the extended 4 months:
For each month, his salary increases by 4%.
Month 1 salary (extended): Ksh 117,800
Month 2 salary (extended): 117,800 * 1.04 = Ksh 122,512
Month 3 salary (extended): 122,512 * 1.04 = Ksh 127,419
Month 4 salary (extended): 127,419 * 1.04 = Ksh 132,541
Total salary for extended 4 months = 117,800 + 122,512 + 127,419 + 132,541 = 500,272
Now, let's add the two totals together:
Total salary for the year = 1,406,400 + 500,272 = 1,906,672
Rounded to the nearest Ksh 1, the total salary Mr Ngate earned by the end of the year is Ksh 1,906,672.