Answer:
The new salary of the employee is $34,500
Explanation:
Extracting the key information from the question:-
*** An employee's salary increased by $4,500
*** This increment represents a 15% raise.
*** We are simply required to calculate this employee's new salary.
Before we go into calculating this employees new salary, let us try to define what a percentage increase really means. A percentage increase literally has to do with the quantity of increment from the initial or original value to the the final value in terms or with respect to hundred parts of the initial value. For example, if an increase of ten percent is made, then it simply means that if you divide that initial quantity into one hundred parts, then that quantity has increased by another ten parts.
Now, in this scenario, we are told that an employee's salary is increased by 15%. Let us denote the employee's initial or former salary by "m"
Since the 15% increment in his salary is equal to $4500 (pay rise) then:
15/100 × m = 4,500
3m/20 = 4,500
cross multiply
3m = 90,000
m = 90,000/3
m = $30,000
$30,000 was his old or initial salary.
Therefore, if his/her salary was raised by $4,500 then his/her new salary will be:
$30,000 + $4,500
= $34,500