Question

A person ears $16,700 one year and gets a 5% raise in salary. What is the new salary?

Answer 1

Answer:

$17,535

Step-by-step explanation:

 Original (old) salary:  $16,700/year

+ raise:                          0.05($16,700/year) = $835/year

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 New salary:  Original salary plus amount of raise:

                        $16,700/year + $835/year   =  $17,535

A faster but still valid approach to finding the new salary involves multiplying the original salary by 1.05:

1.05($16,700) = $17,535.  Here the '1.00' represents the original salary and the '0.05) the raise.