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Last year Mr. John Q. Public received an inheritance. He paid 20% in

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Last year Mr. John Q. Public received an inheritance. He paid 20% in  [#permalink]

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New post 14 Mar 2019, 01:50
1
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A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

86% (02:13) correct 14% (02:09) wrong based on 22 sessions

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Last year Mr. John Q. Public received an inheritance. He paid 20% in federal taxes on the inheritance, and paid 10% of what he had left in state taxes. He paid a total of $10, 500 for both taxes. How many dollars was the inheritance?

(A) 30, 000
(B) 32, 500
(C) 35, 000
(D) 37, 500
(E) 40, 000

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Re: Last year Mr. John Q. Public received an inheritance. He paid 20% in  [#permalink]

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New post 14 Mar 2019, 02:58
Solve:

\(0.2x + 0.1(x - 0.2x) = 10500\)

\(0.3x -\frac{1}{50}x = 10500\)

\(\frac{15x - x}{50}= 10500\)

\(x = 10500 * \frac{50}{14} = 1500 * 25 = 37500\)

Imho, correct answer is D.
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Last year Mr. John Q. Public received an inheritance. He paid 20% in  [#permalink]

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New post 14 Mar 2019, 05:03
Bunuel wrote:
Last year Mr. John Q. Public received an inheritance. He paid 20% in federal taxes on the inheritance, and paid 10% of what he had left in state taxes. He paid a total of $10, 500 for both taxes. How many dollars was the inheritance?

(A) 30, 000
(B) 32, 500
(C) 35, 000
(D) 37, 500
(E) 40, 000



IMO D
37500*.8*.9 = 27,000
i.e 10,500 amount of both taxes
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Re: Last year Mr. John Q. Public received an inheritance. He paid 20% in  [#permalink]

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New post 18 Mar 2019, 18:45
Bunuel wrote:
Last year Mr. John Q. Public received an inheritance. He paid 20% in federal taxes on the inheritance, and paid 10% of what he had left in state taxes. He paid a total of $10, 500 for both taxes. How many dollars was the inheritance?

(A) 30, 000
(B) 32, 500
(C) 35, 000
(D) 37, 500
(E) 40, 000


We can create the equation:

0.2n + 0.1(0.8n) = 10,500

0.2n + 0.08n = 10,500

0.28n = 10,500

n = 37,500

Answer: D
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Re: Last year Mr. John Q. Public received an inheritance. He paid 20% in   [#permalink] 18 Mar 2019, 18:45
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