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# When Leo imported a certain item, he made a 7 percent import

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Manager
Joined: 10 Oct 2008
Posts: 56

Kudos [?]: 69 [0], given: 0

When Leo imported a certain item, he made a 7 percent import [#permalink]

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17 Oct 2008, 09:44
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

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

Kudos [?]: 69 [0], given: 0

SVP
Joined: 17 Jun 2008
Posts: 1534

Kudos [?]: 279 [0], given: 0

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17 Oct 2008, 12:31
Suppose, x was the value on which import tax was paid.
Then 0.07x = 87.5 or, x = 1250 and total value = 2250.

Hence, C.

Kudos [?]: 279 [0], given: 0

Re: value   [#permalink] 17 Oct 2008, 12:31
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# When Leo imported a certain item, he made a 7 percent import

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