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10 Feb 2006, 12:47
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N
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In a certain township, C-1 commercial property is taxed at a rate 25 percent higher per acre than R-1 residential property. If tax revenues on the two types of property are solely a function of tax rates, what was the ratio of tax revenues derived from C-1 commercial property to tax revenues derived from R-1 residential property last year?
(1) Last year, revenues derived from taxes on C-1 commercial property were $10 million, and revenues derived from taxes on R-1 residential property were $4 million.
(2) Last year, twice as many acres were taxed as C-1 commercial property as were taxed as R-1 residential property.
(1) Last year, revenues derived from taxes on C-1 commercial property were $10 million, and revenues derived from taxes on R-1 residential property were $4 million.
(2) Last year, twice as many acres were taxed as C-1 commercial property as were taxed as R-1 residential property.
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10 Feb 2006, 13:07
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djcham
Answer is D. Both statements are enough on their own to answer this question.
Main stem -
C = 1.25R
=> C / R = 1.25
=> C / R = 5 / 4
Option 1 - Obviously, C / R = 10 / 5 = 5 / 2.
Option 2 -
C has twice the # of acres than R.
So, using main stem and this info, C/R = 2*(5/4) = 5/2
