Question

Many U.S employees received a 3% raise in 2012. Suppose an employee made $47,000 in 2011 and received a 3% raise. What did she make in 2012? Show 2 different ways to answer the question.

Answer 1

First lets get 3% into decimal form.

3% is 3/100 = 0.03

Now multiply 0.03 by 47000 to get how much extra money she was going to get.

47000 * 0.03 = 1410

Now we just add
47000 + 1410 = 48410 is what she was going to make in 2012

Another way to do this is

(47000)(1+0.03) = 48410

you would use (1+0.03) which tells you she increased in pay.