alanforde800Maximus wrote: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) (mn + 10000)/m %
b) (n + 10000)/m %
c) (mn + 100,000)/100m %
d) (mn + 1,000,000)/100m %
e) (mn + 1,000,000)/m %
Let m=100,000 and n=10%.
Raise for this year = 10% of 100,000 = 10,000.
Total salary this year = last year's salary + raise + bonus = 100,000 + 10,000 + 10,000 = 120,000.
Percent increase from last year's $100,000 salary to this year's $120,000 salary = 20%. This is our target.
Now plug m=100,000 and n=10 into the answers to see which yields our target of 20%.
Only
E works:
(mn + 1,000,000)/m = (100,000*10 + 1,000,000)/100,000 = 2,000,000/100,000 = 20.
The correct answer is
E.
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