[email protected] wrote:Am I wrong in assuming 100 at the start of the first year 50% increase will be 150 in the second year and again 50% increase in the third year making it 225? So the net increase will be
A 50% increase 3 years in a row means that the salary increases by 50% a total of 3 times.
Let the starting salary = 100.
1st year increase = 100+ 50% of 100 = 100+50 = 150.
2nd year increase = 150 + 50% of 150 = 150+75 = 225.
3rd year increase = 225 + 50% of 225 = 225+112.5 = 337.5.
Total increase = 337.5 - 100 = 237.5.
Total percent increase = (total increase)/(starting salary) * 100 = (237.5/100) * 100 = 237.5%.
The correct answer is
C.
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