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Budget Increase Calculator

Formula

The formula to calculate the New Budget (NB) is:

$\text{NB} = \text{CB} \times \left(1 + \frac{\text{IP}}{100}\right)$

Where:

$\text{NB}$ is the new budget ($)
$\text{CB}$ is the current budget ($)
$\text{IP}$ is the increase percentage (%)

What is a Budget Increase?

A budget increase refers to the rise in the amount of money allocated for a particular purpose, such as a project, department, or personal finances. It is often expressed as a percentage of the current budget. Understanding how to calculate a budget increase is essential for financial planning and management, ensuring that resources are appropriately allocated to meet growing needs or to adjust for inflation.

Example Calculation

Let's assume the following values:

Current Budget (CB) = $50,000
Increase Percentage (IP) = 10%

Using the formula to calculate the New Budget:

$\text{NB} = 50000 \times \left(1 + \frac{10}{100}\right) = 50000 \times 1.10 = 55000 \text{ dollars}$

The New Budget is $55,000.