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22 April, 11:26

A graduate student is given a starting salary of 400BD per month for a programming job. The employee has been promised a salary raise of 10% per year for the first 3 years and 20% a year for each additional year. The salary raise is based on last year's salary. How long will the employee have to wait until they have a salary of 600BD per month?

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  1. 22 April, 11:51
    0
    The employee will have to wait for 4 years to get the salary.

    Step-by-step explanation:

    Given,

    The salary pr month = 400BD

    10% salary will be raised for the 3 years.

    To find the salary 600BD per month

    For, 1st year, the salary is = 400BD

    For, 2nd year, the salary will be = 400 + 400 * 10%

    =440BD

    For, 3rd year, the salary will be = 440 + 440 * 10%

    = 484BD

    For, 4th year, the salary will be = 484 + 484 * 10%

    = 532.4BD

    Next additional year the salary will be raised 20% per year

    so, for 5th year, the salary will be = 532.4 + 532.4 * 20%

    =638.88BD

    Hence, in 5th year the salary will be more than 600BD per month

    That means, the employee has to wait for 4 years after joining to get the salary.
  2. 22 April, 11:51
    0
    4 years

    Step-by-step explanation:

    After 3 years:

    400 (1.1³) = 532.4

    n additional years

    600 = 532.4 (1.2^n)

    1500/1331 = 1.2^n

    ln (1500/1331) = n*ln1.2

    n = 0.655

    5th year
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