Question

suppose you begin teaching grade school in your hometown with an annual salary of $57,000. after five years, you receive a raise with a new salary of $71000. find both the absolute and the relative (percentage) change in your salary

Answer 1

Subtracting $57000 from $71000 produces the absolute change in salary and is $14000.

Comparing this change to the original salary produces the relative change:

$14000
------------ = 0.246.  This is equivalent to 24.6%.
$57000