1985 AJHSME Problems/Problem 21

Revision as of 00:32, 9 March 2016 by Greenguy03 (talk | contribs) (Solution)

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 100 dollars then the next year he would have 110 dollars then the next year he would have 121 dollars then the next year he would have 133.1 dollars then, the last year, he would have 146.41; therefore the answer is $\boxed{\text{E}}$.

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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