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

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Director
Joined: 05 Jan 2008
Posts: 685

Kudos [?]: 604 [1], given: 0

After paying a 10 percent tax on all income over \$3,000, a [#permalink]

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24 May 2008, 06:05
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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?
_________________

Persistence+Patience+Persistence+Patience=G...O...A...L

Kudos [?]: 604 [1], given: 0

Intern
Joined: 14 May 2008
Posts: 38

Kudos [?]: 35 [0], given: 0

Re: PS: 10 percent.. [#permalink]

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24 May 2008, 06:11
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

Kudos [?]: 35 [0], given: 0

Current Student
Joined: 28 Dec 2004
Posts: 3350

Kudos [?]: 319 [0], given: 2

Location: New York City
Schools: Wharton'11 HBS'12
Re: PS: 10 percent.. [#permalink]

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24 May 2008, 07:21
they way i did was..

3000+.9(x-3000)=12000

solve for x.you get 13000

Kudos [?]: 319 [0], given: 2

Director
Joined: 05 Jan 2008
Posts: 685

Kudos [?]: 604 [0], given: 0

Re: PS: 10 percent.. [#permalink]

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24 May 2008, 07:25
Gosh, I missed this under time..
_________________

Persistence+Patience+Persistence+Patience=G...O...A...L

Kudos [?]: 604 [0], given: 0

Re: PS: 10 percent..   [#permalink] 24 May 2008, 07:25
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# After paying a 10 percent tax on all income over \$3,000, a

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