Question

In: Finance

After a one-half increase of his current hourly​ wage, a man receives a new hourly wage...

After a one-half increase of his current hourly​ wage, a man receives a new hourly wage of ​$24.02. How much was his hourly wage before the​ increase?

The hourly wage before the increase was $ ______.

Please explain step by step.

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Expert Solution

The hourly wage before the increase was $16.01
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Statement showing Computations
Particulars Amount
New Hourly Wage                      24.02
Let old wage be x
x + .50x = 24.02
1.5 x = 24.02
Old Hourly wage = $16.01

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