Hank, I just got a raise at work from $35,000AUD to $42,000AUD – what is that percentage of increase, more so, how do I calculate it? - Gerald from Perth
Hey Gerald – good question, people wonder that more than you think. So the way to calculate a percent increase between two numbers:
1. Take the difference between two numbers (this can be a subtracted either way because the number will just be a negative) $42,000 – $35,000 = $7,000
2. Take the difference ($7,000) and divide by the original number: $7,000/$35,000 = 0.20
3. Finally, multiply the number above by 100. (0.20*100 = 20%)
You’ve gotten a 20% raise! Which is far better than the standard “cost of living increase” of about 3.1%! Nice job!
(Thanks to OnFinancialSuccess for the typo fix resolve. )