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# After paying a 10 percent tax on all income over $3,000, a  post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message Intern Joined: 16 Feb 2007 Posts: 13 Followers: 0 Kudos [?]: 0 [0], given: 0 After paying a 10 percent tax on all income over$3,000, a [#permalink]

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10 Jul 2007, 16:31
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After paying a 10 percent tax on all income over $3,000, a person had a net income of$12,000. What was the income before taxes?
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Joined: 08 Feb 2007
Posts: 610
Location: New Haven, CT
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Kudos [?]: 17 [0], given: 0

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10 Jul 2007, 16:41
setup the equation {3,000 + x(1-.10)=12,000} to find taxed amount

{3,000 + x(1-.10)=12,000}, subtract 3,000
x(1-.10)= 9,000, divide out .9

x= 10,000, this is the taxed amount

10,000 * .10 = 1,000

3,000 + 10,000 - 1,000= 12,000

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10 Jul 2007, 19:05
Let the person's income be x

Then taxable income = (x-3000)
Amount left after tax = 0.9(x-3000) + 3000 = 12000

0.9(x-3000) = 9000
x-3000 =10000
x = 13000
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