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

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

A.

12%

B.

13%

C.

15%

D.

20%

Correct option is A

Given:

Last year's monthly salary = Rs. 34,500

This year's monthly salary = Rs. 38,640

Formula Used:

Percentage Increase = New SalaryOld SalaryOld Salary×100\frac{\text{New Salary} - \text{Old Salary}}{\text{Old Salary}} \times 100​​

Solution:

Difference = New Salary - Old Salary

= 38,640 - 34,500

= 4,140

Percentage Increase = 4,14034,500×100\frac{4,140}{34,500} \times 100 = 0.12×100=12% 0.12 \times 100= 12\%​​

Answer: The percentage increase in Ranjan’s monthly salary is 12%.

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