The problem
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How do I calculate the overall raise percentage if I receive a 15% raise followed by a 10% raise?
Answer provided by our tutors
Let 'x' represent the salary before the raise.
You need to convert the percentage to decimals first.
After the first raise of 15% the new salary will be: 1.15x
After the second raise of 10% of the previous salary: 1.10*1.15x = 1.265x
Now, lets compare the final salary to the start salary to find the overall raise:
1.265x - x = 0.265x
Lets convert the decimal back to percentage:
0.265 is 26.5%
So, the overall raise will be 26.5%.