Question

A salesman who makes $32,500 a year gets promoted to sales manager, earning a new salary of $43,250. What was the rate of increase for the salesman?

Answer 1

33.1%

Explanation:

First, calculate the dollar amount of the increase. Subtract $32,500 from $43,250. We get $10,750.

Next, divide this $10,750 by the original salary, $32,500, to determine what fraction of $32,500 is represented by $10,750:

fraction = $10,750/$32.500 = 0.331

Convert this to a percentage by multiplication by 100%: 33.1%

The rate of increase of the saleperson's salary was 33.1%.