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The state income tax where Kristin lives is levied at the rate of p%

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The state income tax where Kristin lives is levied at the rate of p%  [#permalink]

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New post 18 Mar 2019, 02:17
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Difficulty:

  55% (hard)

Question Stats:

62% (03:14) correct 38% (04:16) wrong based on 13 sessions

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The state income tax where Kristin lives is levied at the rate of p% of the first $28000 of annual income plus (p + 2)% of any amount above $28000. Kristin noticed that the state income tax she paid amounted to (p + 0.25)% of her annual income. What was her annual income?


(A) $28000
(B) $32000
(C) $35000
(D) $42000
(E) $56000

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The state income tax where Kristin lives is levied at the rate of p%  [#permalink]

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New post 18 Mar 2019, 02:44
Bunuel wrote:
The state income tax where Kristin lives is levied at the rate of p% of the first $28000 of annual income plus (p + 2)% of any amount above $28000. Kristin noticed that the state income tax she paid amounted to (p + 0.25)% of her annual income. What was her annual income?


(A) $28000
(B) $32000
(C) $35000
(D) $42000
(E) $56000


Given
A(p+.25)/100=28000p/{100+(p+2)*(A-28000)/ 100.

solve for A we get

$(p+.25)A=28000p+Ap+2A-28000p-56000$

$.25A=2A-56000$

$32000
IMO B
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The state income tax where Kristin lives is levied at the rate of p%   [#permalink] 18 Mar 2019, 02:44
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The state income tax where Kristin lives is levied at the rate of p%

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