Discussion
After three successive equal percentage rise in salary, Rs. 100 turned into 140 Rs. and 49 paise. What is the percentage rise in salary
Answer: A
The percentage rise is 12 %.
Rs. 140 and 49 paise is Rs. 140.49. Three equal rises of r% multiply the salary by \((1 + r/100)^{3}\):
\[ \begin{aligned} 100\left(1 + \tfrac{r}{100}\right)^{3} &= 140.49 \\ 1.12^{3} &= 1.404928 \approx 1.4049 \end{aligned} \]
So r = 12. A check of the neighbours: \(1.11^{3} \approx 1.3676\), giving Rs. 136.76, and \(1.13^{3} \approx 1.4429\), giving Rs. 144.29. Dividing the 40.49 rise by 3 to get about 13.5% ignores compounding.
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