Problem

Company A pays $\$ 25,000$ yearly with raises of $\$ 1,600$ per year. Company B pays $\$ 27,000$ yearly with raises of $\$ 700$ per year. Which company will pay more in year 10 ? How much more? Which company pays more in year $10 ?$ Both companies pay the same. Company B pays more. Company A pays more. There is not enough information. How much more?

Solution

Step 1 :\(\text{Company A's salary in year 10} = 25000 + 1600 \times (10 - 1) = 25000 + 1600 \times 9 = 25000 + 14400 = 39400\)

Step 2 :\(\text{Company B's salary in year 10} = 27000 + 700 \times (10 - 1) = 27000 + 700 \times 9 = 27000 + 6300 = 33300\)

Step 3 :\(\text{Difference in salaries} = 39400 - 33300 = 6100\)

Step 4 :\(\boxed{\text{Company A pays more in year 10 by }\$6100}\)

From Solvely APP
Source: https://solvelyapp.com/problems/26463/

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