Question

Find last year's salary if, after a 3% pay raise, this year's salary is $37,595.

how much was last years salary?

Answer 1

It is $36,500.

Explanation:

This year's salary is equal to last year's salary plus a 3% pay raise, which is 3% of last year's salary added to the last year's salary:

This year's salary = X + 0.03X

We know that this year's salary is $37,595, so we can set up the equation:

37,595 = X + 0.03X

Now, combine like terms:

37,595 = 1.03X

To find X, divide both sides of the equation by 1.03:

X = 37,595 / 1.03 ≈ 36,500

So, last year's salary was approximately $36,500.

Answer 2

$36,500

Explanation:

Let the last year's salary be x.

The 3% pay raise this year is equal to:

`\sf (3)/(100 )* x = 0.03x`

So, the current salary is:

`\sf x + 0.03x = \$37,595`

Combining like terms, we get

1.03x = $37,595.

Dividing both sides by 1.03, we get:

`\sf x = (\$37,595)/(1.03)`

`\sf x = \$36,500`

Therefore, last year's salary was $36,500.