Question

Perry made $34,885 this year. If the inflation rate was 6.5 percent, how much was his salary actually worth?

Answer 1

Worth of Perry’s salary due to inflation `= color(purple)($ 32,617.48)`

Explanation:

Inflation rate = 6.5%

Hence actual worth of the salary is = 100 - 6.5 = 93.5%

Money earned in this year by Perry = $34, 885

Worth of his salary due to inflation = 34,885 * 93.5%

`= (34,885 * 93.5) / 100 = $ 32,617.48`