1985 AJHSME Problems/Problem 21

Revision as of 15:11, 6 October 2024 by Lovelearning999 (talk | contribs) (Solution 2)

Problem

Mr. Green receives a $10\%$ raise every year. His salary after four such raises has gone up by what percent?

$\text{(A)}\ \text{less than }40\% \qquad \text{(B)}\ 40\% \qquad \text{(C)}\ 44\% \qquad \text{(D)}\ 45\% \qquad \text{(E)}\ \text{more than }45\%$

Solution

Assume his salary is originally $100$ dollars. Then, in the next year, he would have $110$ dollars, and in the next, he would have $121$ dollars. The next year he would have $133.1$ dollars and in the final year, he would have $146.41$. As the total increase is greater than $45\%$, the answer is $\boxed{\text{E}}$.

~sakshamsethi

Solution 2

Let Mr.Green's salary be $x$ dollars.

Thus, after an year, Mr.Green salary becomes $\frac{11}{10}x$

See Also

1985 AJHSME (ProblemsAnswer KeyResources)
Preceded by
Problem 20
Followed by
Problem 22
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All AJHSME/AMC 8 Problems and Solutions


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