Question

How would i solve this​

Answer 1

`(6020)/(430000){=(tax)/(500000)`

`tax = 7000`

Explanation:

1. Approach

To solve this problem, one needs to form a proportion. Since it is given that the tax rate is the same, one can say that the amount collected in tax, over the price of the property equals, is equal to the unknown tax amount over the price of the property. Then one can solve this proportion with cross products.

2. Solving

Since the tax rate is the same, one can say that the tax paid over the property price for the given information, is equal to the unknown tax paid over the other property price. Hence one can set up the proportion and solve;

`(tax_. paid)/(price)=(unknwon_. tax)/(price)`

Substitute,

`(6020)/(430000){=(tax)/(500000)`

Simplify,

`(301)/(21500)=(tax)/(50000)`

Cross products,

`150500000 = 21500tax`

Inverse operations,

`150500000=21500tax\\/21500\\\\tax = 7000`