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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