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Next year, a certain executive will receive a 15-percent increase in

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Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 02 Jul 2019, 23:37
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Next year, a certain executive will receive a 15-percent increase in base salary, but will no longer receive her $8000 yearly bonus. If next year's salary represents a 7-percent net increase in income from this year, what is this year's base salary?

(A) 100,000
(B) 105,000
(C) 107,000
(D) 115,000
(E) 123,050

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Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 02 Jul 2019, 23:46
1
1
----------2019--------------2020------
Base------X-----------------1.15X-----
Net------X+8000-----------1.15X-----

We are given, 1.15X = 1.07(X+8000) and we are asked to find X

1.15X = 1.07X + 8560

0.08X = 8560

X=107,000

Answer is (C)

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Re: Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 03 Jul 2019, 00:41
1.15x - 8000=1.07x
0.08x=8000
x=100,000
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Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 03 Jul 2019, 01:55
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Bunuel wrote:
Next year, a certain executive will receive a 15-percent increase in base salary, but will no longer receive her $8000 yearly bonus. If next year's salary represents a 7-percent net increase in income from this year, what is this year's base salary?

(A) 100,000
(B) 105,000
(C) 107,000
(D) 115,000
(E) 123,050


Let the base salary = x
Previous net salary = x + 8000
Increased salary = 15 percent net increase in base salary = 15/100*x = 0.15x
Net increase = 7% of (x + 8000) = 0.07x + 560
Given, 0.15x = 8000 + 0.07x + 560
--> 0.08x = 8560
--> x = 8560*100/8 = 107,000

IMO Option C

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Re: Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 03 Jul 2019, 06:24
Bunuel wrote:
Next year, a certain executive will receive a 15-percent increase in base salary, but will no longer receive her $8000 yearly bonus. If next year's salary represents a 7-percent net increase in income from this year, what is this year's base salary?

(A) 100,000
(B) 105,000
(C) 107,000
(D) 115,000
(E) 123,050


Base salary be X
107%(X+8000)=115% X
0.08X=8560
X=107,000 IMO C
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Re: Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 03 Jul 2019, 09:00
Bunuel wrote:
Next year, a certain executive will receive a 15-percent increase in base salary, but will no longer receive her $8000 yearly bonus. If next year's salary represents a 7-percent net increase in income from this year, what is this year's base salary?

(A) 100,000
(B) 105,000
(C) 107,000
(D) 115,000
(E) 123,050


let present salary ; x+8000
increment ; 1.07*(x+8000) ; 1.07x+8560
and actual increment ; 1.15x
so base salary ; 1.07x+8560-1.15x
solve for x ; 107,000
IMO C
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Re: Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 06 Jul 2019, 17:24
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Bunuel wrote:
Next year, a certain executive will receive a 15-percent increase in base salary, but will no longer receive her $8000 yearly bonus. If next year's salary represents a 7-percent net increase in income from this year, what is this year's base salary?

(A) 100,000
(B) 105,000
(C) 107,000
(D) 115,000
(E) 123,050


We can let n = the executive’s base salary this year and create the equation:

1.15n = 1.07(n + 8000)

1.15n = 1.07n + 1.07(8000)

0.08n = 1.07(8000)

8n = 107(8000)

n = 107(1000) = 107,000

Answer: C
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Re: Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 07 Aug 2019, 12:52
Bunuel wrote:
Next year, a certain executive will receive a 15-percent increase in base salary, but will no longer receive her $8000 yearly bonus. If next year's salary represents a 7-percent net increase in income from this year, what is this year's base salary?

(A) 100,000
(B) 105,000
(C) 107,000
(D) 115,000
(E) 123,050


1.15b/(b+8000)=107/100
115b=107(b+8000)
8b=107(8000)
b=107(1000)

Answer (C).
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Re: Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 27 Aug 2019, 01:56
Can someone explain the term Net Increase in the sentence "next year's salary represents a 7-percent net increase in income from this year" for me, please?
I just thought the equation would be "next year salary = 7% ( next year salary - this year salary) and I know it is totally but I dont know why because I cannot understand the term "net increase".
Thank you so much
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Re: Next year, a certain executive will receive a 15-percent increase in  [#permalink]

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New post 27 Aug 2019, 10:34
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churuand wrote:
Can someone explain the term Net Increase in the sentence "next year's salary represents a 7-percent net increase in income from this year" for me, please?
I just thought the equation would be "next year salary = 7% ( next year salary - this year salary) and I know it is totally but I dont know why because I cannot understand the term "net increase".
Thank you so much


Will try to explaint it.......

Quote:
Next year, a certain executive will receive a 15-percent increase in base salary, but will no longer receive her $8000 yearly bonus. If next year's salary represents a 7-percent net increase in income from this year, what is this year's base salary?


This Years Salary = Base Salary + 8000 (bonus)

Next Years Salary = 115% of Base Salary

Now, further it has been stated in the green highlighted statement that -

115% of Base Salary = 7% This Years Salary

Hope this helps.
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Re: Next year, a certain executive will receive a 15-percent increase in   [#permalink] 27 Aug 2019, 10:34

Next year, a certain executive will receive a 15-percent increase in

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