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Chapter 6: Problem 6

When you became a manager, your \(\$ 60,000\) annual salary increased by $25 \% .$ You found the new job too stressful and requested a return to your original job. You resumed your former duties at a \(20 \%\) reduction in salary. How much are you making at your old job due to the transfer and return?

Short Answer

Expert verified
Answer: The final salary is $60,000.

Step by step solution

01

Calculate the increased salary

First, we need to find the increased salary after the initial 25% increase. To do this, find the 25% increase, and then add it to the original salary. To find the 25% increase, multiply the original salary by 0.25: 25% of \(60,000 = \)60,000 * 0.25 = $15,000 Now add the increase to the original salary: Increased salary = \(60,000 + \)15,000 = $75,000
02

Calculate the salary after returning to the old job

Next, we need to find the salary after returning to the old job with a 20% reduction in salary. To find the 20% reduction, multiply the increased salary by 0.2: 20% of \(75,000 = \)75,000 * 0.2 = $15,000 Now subtract the reduction from the increased salary: Final salary = \(75,000 - \)15,000 = $60,000 The final salary after returning to the old job is $60,000, which is the same as the original salary before becoming a manager.

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