Question

A bank Teller's annual salary will increase by 12% next year to an annual salary of

$48,000. What is the teller's annual salary now?

Answer 1

$42,857.14

Explanation:

12% = 12/100 = 0.12

If the teller's current salary is D and it increases by 12% in one year, the salary next year would be

X(1+0.12) = 1.12X

We know that salary next year is 48000

Using this fact,

1.12X = 48000

Dividing by 1.12 on both sides,

X = 48000/1.12 = 42,857.14