An employee's new salary is \( \$ 18,165 \) after getting a \( 5 \% \) raise. What was the salary before the increase in pay?
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To find the salary before the increase, we can denote the original salary as \( x \). Since the employee received a 5% raise, their new salary can be expressed as: \[ x + 0.05x = 1.05x \] Given that the new salary is \( \$18,165 \), we can set up the equation: \[ 1.05x = 18165 \] Now, to find \( x \), we divide both sides by \( 1.05 \): \[ x = \frac{18165}{1.05} \approx 17,300 \] So, the salary before the increase was approximately \( \$17,300 \). Did you know that salary raises are often set at specific percentages to keep up with inflation or to reward good performance? In the corporate world, it's common to see raises ranging from 3% to 7%, depending on the company's financial health and individual performance. In real life, being proactive about your salary discussions can be very beneficial. It's a great idea to document your contributions and accomplishments, so when the time comes for a raise, you're prepared to present your case effectively! Just remember, timing, negotiation skills, and a sprinkle of professionalism go a long way.