Last year, Ranjan’s monthly salary was Rs. 34,500 and this year his monthly salary is Rs. 38,640. What is the percentage increase in Ranjan’s monthly salary this year over his monthly salary last year?

Correct option is B

Given: 

Previous salary = 34500

Current salary = 38640
Formula Used :
Percentage increase in salary = $$\frac{ (current \ salary-\ previous \ salary)}{(Previous \ salary)}×100$$​​
Solution:
Required Percentage increase = $$\frac{(38640-34500)}{34500}×100 =\frac{414000}{34500} =12 \%$$​​