Question

Find last year's salary if, after a 5% pay raise, this year's salary is $38,325?

Answer 1

(S)(1.05) = 38325

So,

S = 38325/1.05

The trick to this problem is figuring out where "1.05" comes from. Think of it as 1 + 0.05 or 100% + 5% for the salary increase.

Answer 2

38325/1.05=36500

Answer 3

Yes, you got it!

Answer 4

thank you that was a perfect explanation!!

Answer 5

I'm glad I was able to help! The best of everything to you.