Question

Connor’s salary is currently $76 000. He will receive salary increases as follows: 5% increase from 1 June and then a 5% increase from 1 January. What will be his new salary from 1 January?

Answer 1

after June 1 his salary will be 79,800 but after January 1 his new salary will be 83,790

Answer 2

Explanation:

5% = 0.05

salary is: $76000

76000 * 0.05 = 3800

A 5% increase is $3800

765000 + 3800 = 79800

another 5% increase from January

79800 + 3800 = 83600

his new salary from 1 January is $83600

correct me if I am wrong

thanks