Question

What is the current salary if the purchasing power is $2000

Answer 1

2300...................................

Answer 2

We will use
`(28)/(36)` ratio, to determine the salary of a person , if the purchasing power of that person is $ 2,000.

As,
`(28)/(36)` ratio states that , 28% of your income is allowed for housing finances and 36 % of your salary is for Debt Purposes.

As, Given

Purchasing Power(Housing finances)= $ 2,000

Let Monthly income of the Person = $ x

28 % of x= 2,000

`(28 * x)/(100)=2,000\\\\ x=(2,000 * 100)/(28)\\\\ x=7142.8571`

So, Current Salary of Person = $ 7143 (approx)