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After a performance review, Steve’s salary is increased by 5%. After a

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SVP
Status: Preparing GMAT
Joined: 02 Nov 2016
Posts: 2043
Location: Pakistan
GPA: 3.39
After a performance review, Steve’s salary is increased by 5%. After a  [#permalink]

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Updated on: 17 Mar 2017, 23:34
1
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Difficulty:

15% (low)

Question Stats:

95% (00:49) correct 5% (03:28) wrong based on 26 sessions

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After a performance review, Steve’s salary is increased by 5%. After a second performance review, Steve’s new salary is increased by 20%. This series of raises is equivalent to a single raise of

A. 25%
B. 26%
C. 27%
D. 30%
E. 32%

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Last edited by SajjadAhmad on 17 Mar 2017, 23:34, edited 1 time in total.
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Joined: 24 Apr 2016
Posts: 331
Re: After a performance review, Steve’s salary is increased by 5%. After a  [#permalink]

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17 Mar 2017, 12:43
1
Let Steve’s Initial salary = 100x

Steve’s salary after first performance review increased by 5% that makes his salary = 100x * 1.05 = 105x

Steve’s salary after second performance review increased by 20% that makes his salary = 105x * 1.2 = 126x

This series of raises is equivalent to a single raise of = 26%

SVP
Status: Preparing GMAT
Joined: 02 Nov 2016
Posts: 2043
Location: Pakistan
GPA: 3.39
Re: After a performance review, Steve’s salary is increased by 5%. After a  [#permalink]

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17 Mar 2017, 23:33
quantumliner wrote:
Let Steve’s Initial salary = 100x

Steve’s salary after first performance review increased by 5% that makes his salary = 100x * 1.05 = 105x

Steve’s salary after second performance review increased by 20% that makes his salary = 105x * 1.2 = 126x

This series of raises is equivalent to a single raise of = 26%

Hi,

There was a problem with book page number so many of the question i have posted got wrong answers , i have updated the answer, it B
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Final days of the GMAT Exam? => All GMAT Flashcards.
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Best of Luck on the GMAT!!

Re: After a performance review, Steve’s salary is increased by 5%. After a &nbs [#permalink] 17 Mar 2017, 23:33
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