Calculation Of Annual Salaries Of Partners And Accounting Technicians Of A Company

Question

A partnership in a public accounting practice has 7 partners and 12 accounting technicians. Each partner draws the same salary, and each technician is paid the same salary. The partners calculate that if they give the technician a raise of 8% and if they increase their own salaries by 5%, the gross annual salaries for all account personnel will rise from the current $1,086,000 to $1,156,500. What are the current annual salaries of a partner and an accounting technician?

Summary

The question belongs to Mathematics and it discusses about calculation of current annual salaries of partners and accounting technicians in a company.

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