Question

The salary of a man is increased by 18% annually. If his present salary is 345,000, what was it a year ago?​

Answer 1

Answer:

Step-by-step explanation:

Thx for the pointd

Answer 2

Answer:

$292,372.88

Step-by-step explanation:

Let's say we want to increase some number x by 18%. We know we can't just multiply x by 18% since $x > x * 0.18$, which doesn't make sense if we are trying to increase x. Instead, we must multiply by 118%. This is because we want to add 18% of x back onto x. This is exactly like saying $x + 0.18 * x$, since that expression is equal to $1.18 * x$.

Now, let's say that some number y is equal to our number x that was increased by 18%. Then, we know that $y = x + 0.18 * x = 1.18 * x$ from our equation above. If we solve this equation for x, we find that $y / 1.18 = x$.

Now, notice that in this equation, y could represent the man's salary this year, and x could represent his salary last year. This is because his salary increases by 18% annually, so y is simply his last year's salary, x, increased by 18% ($y = 1.18 * x$).

Finally, we can easily just plug in our numbers for y and x in our equation that's solved for x: $y / 1.18 = 345,000 / 1.18 = 292,372.88 = x$, and we find our answer.