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FutureStarrA Rate of Increase Calculator
The rate of increase calculator lets you easily find out how long it would take $10,000 to double, triple, or become a million dollars. You enter the number of years and the dollar amount, such as $10 or $10,000.
The concept of percent increase is basically the amount of increase from the original number to the final number in terms of 100 parts of the original. An increase of 5 percent would indicate that, if you split the original value into 100 parts, that value has increased by an additional 5 parts. So if the original value increased by 14 percent, the value would increase by 14 for every 100 units, 28 by every 200 units and so on. To make this even more clear, we will get into an example using the percent increase formula in the next section.Let us say your salary is $50,000 and you were offered a 20% increase, then to calculate your new salary do: $50,000 + $50,000 * 20 / 100 = $50,000 + $50,000 * 0.2 = $50,000 + $10,000 = $60,000. Let us say you have been approached with an opportunity for a new job and they offer you $60,000 instead of your current $50,000 salary. What is the percentage increase from the difference of $10,000? We plug the numbers into the first formula above to get $60,000 / $50,000 * 100 - 100 = 1.2 * 100 - 100 = 120 - 100 = 20% increase. You can verify this using this online percent increase calculator.
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