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March 8 Pay Raise 2

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March 8 Pay Raise 2

  1. 1. Pay Raise 2
  2. 2. Last week we calculated raises and new salaries based on % raises. If Jim makes $10 per hour and gets an 8% raise what is his new wage? 10 * .08 = .80 raise 10 + .80 = $10.80 new wage
  3. 3. We are going to look at the reverse. We will start with the amount of a raise and calculate the raise as a %
  4. 4. Example Betty makes $500 per week. She just received a $60 per week raise. Find the % increase. Wage * Raise % = Raise 500 * % = 60 % = 60 / 500 = .12 Raise % = 12%
  5. 5. Example 2 Peter will make $60000 this year. His contract says he'll make $65000 next year. By what % will his pay rise? Raise = 65000 - 60000 = 5000 Wage * Raise % = Raise 60000 * % = 5000 % = 5000 / 60000 = .083333 Raise % = 8.333%

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