The formula to calculate the percent salary increase is:
\(PSI = \frac{NS - OS}{OS} \times 100\)
Where:
Example 1:
Calculation:
\(PSI = \frac{60000 - 50000}{50000} \times 100 = \frac{10000}{50000} \times 100 = 0.2 \times 100 = 20\%\)
Example 2:
Calculation:
\(PSI = \frac{75000 - 65000}{65000} \times 100 = \frac{10000}{65000} \times 100 \approx 15.38\%\)