Two years ago, when a Publication House increased the monthly salary of its employees by 10% and employees started to draw rupees 2100 per month. Again the Publication House increased the salary by 20% last year, calculate the increased amount of monthly salary of the employees in two years.
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Discussing interest starts with the principal, or amount your account starts with. This could be a starting investment, or the starting amount of a loan. Interest, in its most simple form, is calculated as a percent of the principal. For example, if you borrowed $100 from a friend and agree to repay it with 5% interest, then the amount of interest you would pay would just be 5% of 100: $100(0.05) = $5. The total amount you would repay would be $105, the original principal plus the interest.
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