Question

Last year, Ronnie's annual salary was $37,000. For this year, he got a 5% raise. What is his annual salary this year? (Write dollars only, with no decimal point.)

Answer 1

Answer:

Ronnie's annual salary this year = $38,850

Explanations:

Ronnie's annual salary last year = $37,000

Percentage increase in Ronnie's salary = 5%

Increase in Ronnie's salary = 5% of 37000 = 5/100 x 37000

Increase in Ronnie's salary = $1850

Ronnie's annual salary this year = Ronnie's annual salary last year + Increase

Ronnie's annual salary this year = $37000 + $1850

Ronnie's annual salary this year = $38,850