Under a new contract, the salary for a position increases from $31,500 to $34,020. What is the rate of increase?
2007-07-29 04:40:37 · 13 answers · asked by Marina P 1 in Science & Mathematics ➔ Mathematics
$34,020 - $31,500 = 2,520
2,520 / 31,500 = .08 (aka 8%)
Why does everyone keep answering this question with the same answer?
2007-07-29 04:55:17 · answer #1 · answered by vegas35 2 · 1⤊ 1⤋
Now the Base salary is=$31,500
& the increase is =$34,020-$31,500=$2520
so Rate of increase=(2520/31500)*100=8% ans
2007-07-29 12:00:04 · answer #2 · answered by MAHAANIM07 4 · 0⤊ 1⤋
For $31,500, the increase was $34,020 ($2,520). So, for $1, the increase is 2520/31500. The percentage increase is (2520/31500)100=8%
2007-07-29 11:51:35 · answer #3 · answered by cidyah 7 · 0⤊ 1⤋
By RATE I presume you mean % Rate of increase.
Given that:
One must base one's calculations on the starting value of $31,500.
So the amount of increase is $34,020 - $31,500 or $2,520.
The % increase is then $2,520 / $31,500 = 8%.
2007-07-29 11:52:29 · answer #4 · answered by vpi61 2 · 0⤊ 1⤋
8%
$34,020 - $31,500 = 2,520
2,520 / 31,500 = .08
=8%
2007-07-29 11:44:01 · answer #5 · answered by ThisGuyRules 3 · 0⤊ 1⤋
Difference / Original amt expressed as a percentage (x 100)
= ((34020 - 31500) / 31500) x 100%
= (2520 / 31500) x 100%
= 0.08 x 100%
= 8%
The rate of increase is 8%
2007-07-29 11:53:01 · answer #6 · answered by fotoad 2 · 0⤊ 1⤋
Its 8%
2007-07-29 12:01:30 · answer #7 · answered by Nikhil B 2 · 0⤊ 1⤋
8%
$34,020 - $31,500 = 2,520
2,520 / 31,500 = 8%
2007-07-29 11:44:36 · answer #8 · answered by Anonymous · 0⤊ 1⤋
The rate of increase
= (34020-31500)/31500
= 0.08
= 8%
2007-07-29 11:44:03 · answer #9 · answered by sahsjing 7 · 1⤊ 0⤋
Increase = $2520
% increase
= (2520 / 31500) x 100 %
= 8 %
2007-07-29 11:54:42 · answer #10 · answered by Como 7 · 1⤊ 0⤋