Question

An employee receives a pay increase from $35,000 per year to $37,500 per year. Calculate the percent increase. Round to the nearest tenth of a percent.

Answer 1

Answer:

The percentage increase in salary of employee is 7.14 %  

Step-by-step explanation:

Given as :

The initial pay of employee = $35,000 per year

The increase pay of employee = $37,500 per year

Let The percentage increase in salary =  X %

So, X  = $\frac{increase salary - initial salary}{initial salary}$  × 100

Or, X  = $\frac{ 37,500 - 35,000}{ 35,000}$  × 100

Or,  X  = $\frac{ 2,500}{ 35,000}$  × 100

∴     X = 0.0714  × 100  = 7.14 %

Hence The percentage increase in salary of employee is 7.14 %   Answer

Answer 2

Answer:

Percentage increase = 7.14%

Step-by-step explanation:

An employee receives a pay increase from $35,000 per year to $37,500 per year. This means that the previous amount that the employee was receiving is $35,000 per year.

The amount that the employee is currently receiving is $37,500

Increase in pay =

The amount that the employee is currently receiving per year - previous amount that the employee was receiving per year. This means

Increase in pay = 37,500 - 35,000

= $2500

The percent increase = Increase in pay / previous amount that the employee was receiving per year × 100. It becomes

2500/35000 × 100

7.14%