Question

Nate receives a raise in his salary. His manager uses the expression 1.025s to represent his new salary, where s represents his current salary. What is the percent of increase in Nate’s salary?

Answer 1

2.5%

Explanation:

Percent increase is found by the formula:

Percent increase =
`(new-old)/(old)*100`

Where,

• 
  `new` is Nate's new salary
• 
  `old` is Nate's old salary

Given old salary is
`s` and new salary as
`1.025s`, substituting in the formula gives us:

`(1.025s-s)/(s)*100\\=(0.025s)/(s)*100\\=0.025*100\\=2.5`

Thus, percent of increase in Nate's salary is 2.5%