Question

John's gross monthly salary is $2,000 starting next month, John receives a 15% raise power month. also starting next month, 30% of his monthly paycheck is withheld for taxes. what will John's net monthly income be next month, after adding the raise and deducting taxes.

Answer 1

John's gross monthly salary is $2000.

John receives a 15% raise in his salary.

So first we have to find 15% of $2000.

15% of 2000 =
`(2000)((15)/(100))`

=
`((2000)(15))/(100)`

=
`(30000)/(100)`

=
`300`

John's salary including the raise = $
`(2000+300)` = $2300.

Now 30% of his monthly paycheck withheld for taxes.

30% of 2300 =
`(2300)((30)/(100))`

=
`((2300)(30))/(100)`

=
`(69000)/(100)`

=
`690`

So the amount of tax deducted = $690.

John's net monthly income = $
`(2300-690)` = $1610.

So we have got the required answer.