TANCET 2008 - Past year paper: Percent, Percent increase, Percentage and fractions: Ascent Education TANCET MBA Classes

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You are here: Home   TANCET Prep Questions  Percents, Fractions   TANCET 2008 Question 14

TANCET 2008 Quant Question 14 : Percent Increase

Question

Joan started work 2 years ago. Her starting salary was half of Mike's salary at that time. Each year since then Joan and Mike have received a rise of 10% in their respective salary. What percentage (to the nearest percent) of Mike's current salary is Joan's current salary?
  1. 45
  2. 46
  3. 48
  4. 50
  5. 220

Correct Answer : 50. Choice (4)

Explanatory Answer

Let the salary of Mike 2 years ago be Rs.100
So, Joan's salary 2 years ago was Rs.50

Mikes present salary has seen two 10 percent increases. So has Joan's salary.
So, Mike's salary 1 year ago = 100 + 10% of 100 = 100 + 10 = 110.
Mike's present salary = 110 + 10% of 110 = 110 + 11 = 121.

Joan's salary 1 year ago = 50 + 10% of 50 = 50 + 5 = 55
Joan's present salary = 55 + 10% of 55 = 55 + 5.5 = 60.5

Joan's present salary of 60.5 = 50% of Mike's present salary of 121.

Level of difficulty: Easy

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