Question
Monthly salary of Jitvik in the month of December 2020
was ₹24,800. Every year his salary increases by 5% from the month of January. What was his salary (in ₹) in the month of February 2022?Solution
Salary in January 2021 = 24,800 × (1 + 5/100) ⇒ Salary in January 2021 = 24,800 × 1.05 ⇒ Salary in January 2021 = 26,040 Salary in January 2022 = 26,040 × (1 + 5/100) ⇒ Salary in January 2022 = 26,040 × 1.05 ⇒ Salary in January 2022 = 27,342 ⇒ Salary in February 2022 = 27,342
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