Problem:
Mr. Green recelves a raise every year. His salary after four such raises has gone up by: what percent?
Answer Choices:
A. less. than
B.
C.
D.
E. More than
Solution:
If the initial salary is thought of as then the first increase gives . The second increase gives . The third increase gives and the fourth increase gives for an increase of .
If is the initial salary then the salary after four increases is for an Increase of .
Answer: .
The problems on this page are the property of the MAA's American Mathematics Competitions