This will probably be an easy one for you business minded people, but I've been sitting here staring at it for what feels like hours and can't figure it out. I would really appreciate if someone would explain how to do it.
You earn $52000/year. You receive a 12.5% salary cut. What percent must the raise be to go back to the original $52000?
I figured out that the amount after the cut is $45500 but that's it.
You earn $52000/year. You receive a 12.5% salary cut. What percent must the raise be to go back to the original $52000?
I figured out that the amount after the cut is $45500 but that's it.
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So your original salary gets cut by 12.5%,
52000*(1-.125) = 45500.
What percent increase of 45500 must be made to go back to 52000?
45500*x = 52000 => x = 52000/45500 =~ 1.143
This means you need a 14.3% increase in salary to go back to 52000
52000*(1-.125) = 45500.
What percent increase of 45500 must be made to go back to 52000?
45500*x = 52000 => x = 52000/45500 =~ 1.143
This means you need a 14.3% increase in salary to go back to 52000
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14.2857%