A person's income increased 15% this year and will be 30% higher next year. If last year's salary was 100000 what will. It be next year

To determine the salary for next year, we can break the problem into two parts: calculating this year's salary after a 15% increase, and then calculating next year's salary after a 30% increase on this year's salary.

1. **Calculate this year's salary:**

   Last year's salary was $ \$100,000 $.

   This year's salary after a 15% increase:
   \[
   \text{This year's salary} = 100,000 + (0.15 \times 100,000) = 100,000 \times (1 + 0.15) = 100,000 \times 1.15 = 115,000
   \]

2. **Calculate next year's salary:**

   This year's salary is $ \$115,000 $.

   Next year's salary after a 30% increase:
   \[
   \text{Next year's salary} = 115,000 + (0.30 \times 115,000) = 115,000 \times (1 + 0.30) = 115,000 \times 1.30 = 149,500
   \]

Therefore, next year's salary will be $ \$149,500 $.

Would you like more details or have any questions?

Here are 8 relative questions that expand on this information:

1. How do you calculate a percentage increase?
2. What is the formula for compound interest?
3. How would the salary change if the increase next year was only 20% instead of 30%?
4. What if the salary increased by 10% each year for the next two years?
5. How do you calculate a percentage decrease?
6. What are some real-world examples where percentage increase is used?
7. How does understanding percentages help in financial planning?
8. What is the effect of compounding multiple percentage increases over several years?

**Tip:** Always double-check your calculations, especially when working with percentages, to avoid errors.

Explore how to calculate salary increases using percentages with an example problem. Given a starting salary of $100,000, learn how to compute this year's salary after a 15% increase and next year's salary after a 30% increase. Suitable for high school students and those interested in financial calculations.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation