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The percentage by which Janice's net salary must be increased in order to arrive at the same net family income as they had before Joe lost his job is 25%.
A percentage is a way to describe a part of a whole. such as the fraction ¼ can be described as 0.25 which is equal to 25%.
To convert a fraction to a percentage, convert the fraction to decimal form and then multiply by 100 with the '%' symbol.
Let the salary of Joe be represented by x, while the salary of Janice is represented by y.
Since the sum of the salary of Joe and Janice is the net income of the family. Therefore, the net salary when Joe had a job will be,
x + y₁ = 100%
Now, it is known that Joe lost his job, which reduced the net family income by 20%. Therefore, the net salary now will be only 80% which will be equal to the salary of Janice. Thus, we can write,
y₁ = 80%
Further, Janice decided to work overtime to compensate for the lost income. Therefore, we can write,
y₂ = 100%
Furthermore, the percentage change in salary of Janice can be written as,
Percentage Change = [(100% - 80%)/80% ] × 100%
= 20/80 × 100%
= 25%
Hence, the percentage by which Janice's net salary must be increased in order to arrive at the same net family income as they had before Joe lost his job is 25%.
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