Last year John earned \(m\) dollars at company \(X\) and was promised an \(n\)-percent raise for this year. If John is

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Last year John earned \(m\) dollars at company \(X\) and was promised an \(n\)-percent raise for this year. If John is paid the promised amount and a $10,000 bonus at the end of this year, by what percent has his total salary(including his bonus) increased this year over last in terms of \(n\) and \(m?\)

a) \(\dfrac{mn + 10000}{m} \%\)
b) \(\dfrac{n + 10000}{m} \%\)
c) \(\dfrac{mn + 100,000}{100m} \%\)
d) \(\dfrac{mn + 1,000,000}{100m} \%\)
e) \(\dfrac{mn + 1,000,000}{m} \%\)

[spoiler]OA=E[/spoiler]

Source: Veritas Prep
Source: — Problem Solving |

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M7MBA wrote:
Sun May 31, 2020 12:40 pm
Last year John earned \(m\) dollars at company \(X\) and was promised an \(n\)-percent raise for this year. If John is paid the promised amount and a $10,000 bonus at the end of this year, by what percent has his total salary(including his bonus) increased this year over last in terms of \(n\) and \(m?\)

a) \(\dfrac{mn + 10000}{m} \%\)
b) \(\dfrac{n + 10000}{m} \%\)
c) \(\dfrac{mn + 100,000}{100m} \%\)
d) \(\dfrac{mn + 1,000,000}{100m} \%\)
e) \(\dfrac{mn + 1,000,000}{m} \%\)

[spoiler]OA=E[/spoiler]

Source: Veritas Prep
Raise = n% of m = $ nm/100

Total increment = nm/100 + 10,000

Total increment of his salary = (nm/100 + 10,000)/m]*100% = (nm + 1,000,000)/m %

The correct answer: E

Hope this helps!

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M7MBA wrote:
Sun May 31, 2020 12:40 pm
Last year John earned \(m\) dollars at company \(X\) and was promised an \(n\)-percent raise for this year. If John is paid the promised amount and a $10,000 bonus at the end of this year, by what percent has his total salary(including his bonus) increased this year over last in terms of \(n\) and \(m?\)

a) \(\dfrac{mn + 10000}{m} \%\)
b) \(\dfrac{n + 10000}{m} \%\)
c) \(\dfrac{mn + 100,000}{100m} \%\)
d) \(\dfrac{mn + 1,000,000}{100m} \%\)
e) \(\dfrac{mn + 1,000,000}{m} \%\)

[spoiler]OA=E[/spoiler]

Solution:

We can express n percent as n/100. Thus, John’s salary this year is his previous salary of m plus his raise of mn/100 plus his bonus of 10,000. Thus, his income this year is m + mn/100 + 10,000 dollars. Since he earned m dollars last year, the overall increase in his salary this year is mn/100 + 10,000. In terms of percent increase, it is:

(mn/100 + 10,000)/m x 100 = (mn + 1,000,000)/m

Answer: E

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