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After a performance review, Steve’s salary is increased by \(5\%.\) After a second performance review, Steve’s new salar

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by Vincen » Sun Oct 03, 2021 8:23 am

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After a performance review, Steve’s salary is increased by \(5\%.\) After a second performance review, Steve’s new salary is increased by \(20\%.\) This series of raises is equivalent to a single raise of

A. \(25\%\)
B. \(26\%\)
C. \(27\%\)
D. \(30\%\)
E. \(32\%\)

Answer: B

Source: Princeton Review
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