Question

Rakesh gets a salary of ` 40000 per month. His salary increases by 8% every year. Find
(i) the increase in his monthly salary after a year.
(ii) his monthly salary after 2 years

Answer 1

Given,

Present monthly salary = Rs. 40000 per month

Salary increases 8% in every year.

To find,

Increase in his monthly salary after a year.

His monthly salary after 2 years.

Solution,

We can simply solve this mathematical problem by using the following mathematical process.

Salary increase after 1 year = 40000 × 8/100 = Rs. 3200

Salary after one year = 40000+3200 = Rs. 43200

Salary increase in 2nd year = 43200 × 8/100 = Rs. 3456

Salary after 2 years = 43200+3456 = Rs. 46656

Hence, increase in monthly salary after a year is As. 3200 and monthly salary after 2 years is Rs. 46656