Paul Rogers, an employee of the Prince Xavier Corporation, has received his salary slip. Use the information in the slip to calculate the new salary credited to his bank account.

$ 5615

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$ 6561

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$ 7650

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$ 6615

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Solution

The correct option is D $$ 6615$
Current salary = $5000
Salary hike = 40%

Paul's increased salary after the hike = 5000 + 40% of 5000
$= 5000 + \frac{40}{100} \times 5000 = 5000 + 2000 = $ 7000$

Tax deduction = 10% (on increased salary)
Salary after deducting tax
$= $ 7000 - 10 % o f $ 7000 = 7000 - \frac{10}{100} \times 7000 = 7000 - 700 = $ 6300$

New Year bonus = 5% (on salary after tax deduction)
The new salary credited to Paul's bank account
$= $ 6300 + 5 % o f 6300 = 6300 + \frac{5}{100} \times 6300 = 6300 + 5 \times 63 = 6300 + 315 = $ 6615$

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