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# leo

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Joined: 06 Nov 2008
Posts: 54
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leo [#permalink]  11 Dec 2008, 16:30
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Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 5 sessions
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When Leo imported a certain item, he made a 7 percent import tax on the portion of the total value of the item in excess of $1,000. If the amount of the import tax that Leo paid was$87.50, what was the total value of the item?

A. $1,600 B.$1,850
C. $2,250 D.$2,400
E. $2,750 Intern Joined: 22 Dec 2007 Posts: 5 Followers: 0 Kudos [?]: 0 [0], given: 0 Re: leo [#permalink] 12 Dec 2008, 01:38 haichao wrote: When Leo imported a certain item, he made a 7 percent import tax on the portion of the total value of the item in excess of$1,000. If the amount of the import tax that Leo paid was $87.50, what was the total value of the item? A.$1,600
B. $1,850 C.$2,250
D. $2,400 E.$2,750

if 7% tax is $87.50, then the value of item ( exceeds$1000) without tax will be= 100% which is-

(87.5/7)*100
12.5*100
or, 1250.

So, total Value will be = 1000+1250 = \$2250. Correct ans: C.
Re: leo   [#permalink] 12 Dec 2008, 01:38
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