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Sektor404 Sektor404
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12 years ago
When multinational conglomerate ‘Resertol’ bought out the company ‘Chicken and Herbs’,
rescuing it from bankruptcy, they announced that all workers would have an immediate pay cut of 50%.
A week later, after much worker outrage and negative publicity, ‘Resertol’ held a press conference to announce that to correct their ill-advised decision they would not merely increase new wages by 50%, but as a goodwill gesture, wages would immediately be increased by 60%.

The media disaster was averted and Resertol was being praised for its generosity. However the workers’ initial joy over the announcement was short lived when they got their next pay statement.

Explain their disappointment by determining the workers’ current pay as a
percentage of their original pay before Resertol took over.



Please and thank you.
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#1
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12 years ago
It's because the percentage of the raise was referred to the already decreased salary.
Let's see what was the final consequence to the salary:
Let's symbolise the salary value with X
The salary, after Resertol bought out the company, decreased by 50%, so the new salary became (50/100)*X or 0,5X
Then, Resertol decided to increase the decreased salary by 60%. The newer salary became: (160/100)0,5*X=1,6*0,5*X= 0,8*X
The final salary is only the 80% of the original salary. So, if for example the original salary was 1000, the final salary would be 800.
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