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.
Solutions
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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