The salary of an employee of a company increases every month by 5 If his salary in March was Rs 7500...........

Quant (SSC) Percentage

The salary of an employee of a company increases every month by 5%. If his salary in March was Rs. 7500. What would be his approximate salary in month of July of the same year?

6525

6930

8269

8682

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Explanation:

To solve this question, we can apply a net% effect formula
Net% effect = x + y + xy/100
x = 5% for April increament
y = 5% for May increament
Now, apply the net% effect formula,
= 5 + 5 + 5 x 5 /100% = 10.25%
Now, again
x = 10.25% and y = 5% for June
= 10.25 + 5 + 10.25 × 5/100% ≈ 15.76%
July month salary = (100 + 15.76)% of 7500
= 115.76 × 7500 /100 = 8682