Question

your current salary is $61,950.00. if you received a 5% raise last year, what was your salary last year before your raise?

Answer 1

your current salary is $61,950.00. if you received a 5% raise last year then your salary last year before raise was 58,853.

   Five percent of 61,950 is 3097 and after subtracting 3097 with the current salary we get 58, 853. Hence 58,853 was the salary before the raise.

   The formula to calculate the pay raise in the salary is:

new salary = old salary + old salary * raise %

If you know the raise percentage and want to determine the new salary amount:

 Convert the percentage into decimal form.

   Multiply the old salary by this value.

   Add this new value to the old salary.

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