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.
Step-by-step reasoning process below:
15400
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.

.

The answer: 15400