A bank teller's hourly wage will increase from $24 to $27.60. This represents a 15% increase in wages.
Increase by = $27.60 - $24 = $3.60
Increase percentage= $3.60 × 100% / $24 = 15%
What are wages?
A wage is the amount of money that companies give to their employees on an hourly or daily basis. Since a wage is a fixed rate, people usually get paid according to the number of hours or days they worked over the week. For instance, a retail worker who works 30 hours per week could earn $18 per hour.
What happens when the wage increases?
Increased wages lead to inflation because doing business becomes more expensive as workers are paid more by employers. To retain the same level of profitability, businesses must raise the prices they charge for their products and services to offset the cost increase.
Learn more about wages: https://brainly.com/question/13847060
#SPJ4
