Question

Lauren is given a 12% pay rise.Her new salary is £24,080. What was Lauren's salary before the pay rise?

Answer 1

The base salary was £21,500.

Explanation:

Giving the following information:

Increase rate (g)= 12%

New salary= £24,080

To calculate the base salary, we need to use the following formula:

Base salary= new salary / (1 + increase rate)

Base salary= 24,080 / (1.12)

Base salary= £21,500

The base salary was £21,500.