Five months ago, Mike earned 10 times more money than Fred. If his salary has increased by 40 percent now, and Fred's salary then was $1000, calculate Mike's salary now. Give me reasons, before answering the question
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Five months ago, Mike earned ten times more money than Fred, and since Fred earned $1000, Mike earned 10 * 1000 = $10000 more than Fred. The total amount of money that Mike earned five months ago is $10000 + $1000 = $11000. Mikes salary has increased by 40 / 100 * $11000 = $4400. Mike's current salary is $11000 + $4400 = $15400. So the final answer is 15400.
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