A worker's present salary is ₦24,000 per annum. His annual increment is 10% of his basic salary at the beginning of the third year?

Answer Details

The worker's annual increment is 10% of his basic salary at the beginning of the third year. This means that at the beginning of the third year, his salary will increase by 10% of his present salary. The third year's salary will be: = 24,000 + 10% of 24,000 = 24,000 + 2,400 = 26,400 Therefore, at the beginning of the third year, the worker's basic salary will be ₦26,400 per annum. Now, we need to calculate the worker's salary after the annual increment at the beginning of the third year. Salary after increment = Basic salary at the beginning of the third year + 10% of basic salary at the beginning of the third year = ₦26,400 + 10% of ₦26,400 = ₦26,400 + ₦2,640 = ₦29,040 Therefore, the worker's salary after the annual increment at the beginning of the third year is ₦29,040 per annum. Hence, the answer is ₦29,040.