Answer to Question #304642 in Finance for Sphiwe

Question

after promotion, Gewn's annual salary was increased by 7.85% to R 450000. Determine his previous monthly salary and the monthly increase he will be getting

Answer 1

$R 450000= 107.85$

? = 100

$\frac{450000\times 100}{107.85}$ = 417246.1752433936

Monthly Salary= $\frac {417246.1752433936 }{12}$

= 34, 770.51

37,500- 34, 770.51= 2,729.49

Increment per month= 227.4575