Question

After my salary was increased by $12%, it was $62,720. What was my salary before the increase?

A) $55,829
B) $56,000
C) $59,000
D) $55,840

Answer 1

To find the salary before the increase of $62,720 with a 12% increase, divide $62,720 by 1.12 to get $55,829.

Step-by-step explanation:

To find your salary before the increase, you need to divide the increased salary by 1 plus the percentage increase. In this case, the salary was increased by 12%, so you would divide $62,720 by 1.12 to find the original salary.

Using the formula:
Original Salary = Increased Salary / (1 + Percentage Increase)

Plugging in the values:
Original Salary = $62,720 / 1.12 = $55,829.

Therefore, your salary before the increase was $55,829.