Choose Raise of $2.50 Quarterly!
Two clerks are engaged, one at a salary which begins at the rate of $100 a year, with a yearly raise of $20; the other at a salary commencing at the same rate, but with a half-yearly raise of $5. In each case payments are made half yearly. Which of them has a larger income?
Source: “Historical Mathematical Puzzlers,” New York Times>/i>, December 13, 1903