Find last years salary if after a 3% pay raise this years salary is $35,020
so if last year's salary was x
then 1.03x = 35020
solve for x
1.03 ≠ 35020
you mean somebody with $1.03 has the same as somebody with $35020 ?
Oops. Sorry, Reiny. I'd already deleted Renne's answer before I saw yours.
ok 35020/1.03=34000 ....but where did the 1.03 come from?
figured that's what happened .
At Ann,
1.03x = 35020
x = 35020/1.03 = $34000
Last year she made $34000
check: 3% of 34000 = 1020
add it on to new the new salary
To find last year's salary given a 3% pay raise and this year's salary, we can use the following steps:
1. Start with this year's salary: $35,020
2. Determine the percentage increase by dividing the pay raise percentage by 100: 3% / 100 = 0.03
3. Calculate the pay raise amount by multiplying this year's salary by the pay raise percentage: $35,020 * 0.03 = $1,050.60
4. Subtract the pay raise amount from this year's salary to find last year's salary: $35,020 - $1,050.60 = $33,969.40
Therefore, last year's salary was $33,969.40.