Last year, Ranjan's monthly salary was ₹34,500 and this year his monthly salary is ₹38,640. What is the percentage increase in Ranjan's monthly salary in this year over his monthly salary last year?

ATQ, Formula to calculate percentage increase: Percentage Increase = (New Salary − Old Salary)/Old Salary) × 100 Given values: Old Salary (last year) = ₹34,500 New Salary (this year) = ₹38,640 Subtract the old salary from the new salary = Increase = ₹38,640 − ₹34,500 = ₹4,140 Now, divide the increase by the old salary = ( ₹4,140/₹34,500) = 0.1209 Multiply by 100 to get the percentage = 0.1209×100=12.09% Therefore, the percentage increase in Ranjan's salary is 12.09%. or 12%