Question
Download Solution PDFAtul's salary was first cut by 24% and later increased by 28%. By what percent was his final salary less than his initial salary?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Initial Salary (S) = 100 units
First Cut = 24%
Increase = 28%
Formula used:
Final Salary = Initial Salary × (1 - Cut%) × (1 + Increase%)
Percentage decrease = ((Initial Salary - Final Salary) / Initial Salary) × 100
Calculation:
Initial Salary = 100 units
First Cut = 24%
⇒ Salary after cut = 100 × (1 - 24/100)
⇒ Salary after cut = 100 × 0.76
⇒ Salary after cut = 76 units
Increase = 28%
⇒ Final Salary = 76 × (1 + 28/100)
⇒ Final Salary = 76 × 1.28
⇒ Final Salary = 97.28 units
Percentage decrease = ((100 - 97.28) / 100) × 100
⇒ Percentage decrease = (2.72 / 100) × 100
⇒ Percentage decrease = 2.72%
∴ The correct answer is option (4).
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