Mathematics for IGCSE & O level - Percentages (Section 4 - No. 46)
Mr. Costa was given an 8% pay rise every year. His starting salary was $28,500. How much does he earn after four rises?
$38849
$38850
$38856
$40000
Explanation
A = P(1 + r/100)^n, where P = 28500, r = 8, and n = 4. A = 28500(1 + 8/100)^4 = $38856
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