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After paying a 10 percent tax on all income over $3,000, a

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Director
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After paying a 10 percent tax on all income over $3,000, a [#permalink] New post 24 May 2008, 05:05
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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?

(A) $13,300
(B) $13,000
(C) $12,900
(D) $10,000
(E) $9,000

I got A, OA says B, what am I missing?
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Joined: 14 May 2008
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Re: PS: 10 percent.. [#permalink] New post 24 May 2008, 05:11
prasannar wrote:
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?

(A) $13,300
(B) $13,000
(C) $12,900
(D) $10,000
(E) $9,000

I got A, OA says B, what am I missing?

Let x be the total taxable income, then =>

x-10% of x = 12000-3000 [since first three thousand do not attract any tax]
0.9x = 9000
x = 10000
so total income = 10000+3000 = 13000
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Joined: 28 Dec 2004
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Location: New York City
Schools: Wharton'11 HBS'12
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Re: PS: 10 percent.. [#permalink] New post 24 May 2008, 06:21
they way i did was..

3000+.9(x-3000)=12000

solve for x.you get 13000
Director
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Joined: 05 Jan 2008
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Re: PS: 10 percent.. [#permalink] New post 24 May 2008, 06:25
Gosh, I missed this under time.. :oops:
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Persistence+Patience+Persistence+Patience=G...O...A...L

Re: PS: 10 percent..   [#permalink] 24 May 2008, 06:25
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