A person is hired for a job that Tk. 500 per month and receives a 10% raise in each following month. In the fourth month, how much will that person earn (in taka)?
Created: 6 years ago |
Updated: 2 years ago
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He gets a raise at a compound rate in each month. So, in the 4th month or at the end of the 3rd month his salary will be = 500 (1 + 10/100)3 = 500 x 1.13 = 500 x1.331 = 665.50 TK.
Md Azizur Rahman
Founder of Satt
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