Math Problem Statement

Janice's monthly salary is 25% more than Fanny's monthly salary. If Fanny's salary for 6 months is $27,000, what is Janice's annual salary?

Solution

We are given that Janice's monthly salary is 25% more than Fanny's monthly salary. Fanny's salary for 6 months is $27,000, and we need to find Janice's annual salary.

Let's break this down step by step:

Step 1: Determine Fanny's Monthly Salary

Since Fanny's salary for 6 months is $27,000, we can find her monthly salary by dividing this amount by 6:

Fanny’s monthly salary=270006=4500dollars/month\text{Fanny's monthly salary} = \frac{27000}{6} = 4500 \, \text{dollars/month}

Step 2: Determine Janice's Monthly Salary

Janice's salary is 25% more than Fanny's. So, Janice's monthly salary can be calculated as follows:

Janice’s monthly salary=Fanny’s monthly salary+25%×Fanny’s monthly salary\text{Janice's monthly salary} = \text{Fanny's monthly salary} + 25\% \times \text{Fanny's monthly salary} Janice’s monthly salary=4500+0.25×4500=4500+1125=5625dollars/month\text{Janice's monthly salary} = 4500 + 0.25 \times 4500 = 4500 + 1125 = 5625 \, \text{dollars/month}

Step 3: Determine Janice's Annual Salary

To find Janice's annual salary, we multiply her monthly salary by 12 (since there are 12 months in a year):

Janice’s annual salary=5625×12=67500dollars/year\text{Janice's annual salary} = 5625 \times 12 = 67500 \, \text{dollars/year}

Thus, Janice's annual salary is $67,500.

Would you like more details or explanations? Here are some follow-up questions to further explore this:

  1. How would the solution change if Janice's salary was 30% more than Fanny's?
  2. What is the percentage increase in Janice's salary over Fanny's on an annual basis?
  3. If Fanny received a raise and her salary increased by $500 per month, what would be Janice's new annual salary?
  4. How can this problem be extended to calculate total salary over multiple years with different percentage increases?
  5. How would we calculate Janice's salary if we were given her salary after taxes, assuming a tax rate?

Tip: When dealing with percentage increases, always find the original base value first before applying the percentage to avoid errors.

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Math Problem Analysis

Mathematical Concepts

Percentage Increase
Basic Algebra

Formulas

Fanny's monthly salary = Total 6-month salary / 6
Janice's monthly salary = Fanny's monthly salary + 25% of Fanny's monthly salary
Janice's annual salary = Janice's monthly salary * 12

Theorems

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Suitable Grade Level

Grades 6-8