Question

Your current salary is $55,590.00. If you received a 2% raise last year, what was your salary last year before

your raise?
Your salary last year was $
(if needed, round to the nearest cent - NO COMMAS).

Answer 1

Salary last year = $54500

Explanation:

Since your current salary is $55,590.00 and it's your old salary raised by 2%, we can use the equation o + 0.02o = 55590 to solve for x, your original salary:

o + 0.02o = 55590

(1.02o = 55590) / 1.02

o = 54500

Thus, your salary last year was $54500.