Percentage of income problem
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A family paid 12 percent of its annual after-tax income on food last year. This amount was equal to 10 percent of its annual before-tax income last year. Which of the following is closest to the percent of the family's annual before-tax income that was paid for taxes last year?
A. 8%
B. 12%
C. 17%
D. 20%
E. 25%
My thoughts are set the after-tax income as x and before-tax income as y, then 0.12x = 0.10y, meaning y = 1.2x. And here is where I got stuck, please help me with this problem.
percentages
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A family paid 12 percent of its annual after-tax income on food last year. This amount was equal to 10 percent of its annual before-tax income last year. Which of the following is closest to the percent of the family's annual before-tax income that was paid for taxes last year?
A. 8%
B. 12%
C. 17%
D. 20%
E. 25%
My thoughts are set the after-tax income as x and before-tax income as y, then 0.12x = 0.10y, meaning y = 1.2x. And here is where I got stuck, please help me with this problem.
percentages
HINT: $y-x=t$ where $t$ represents tax paid, you want to calculate $$frac tx$$
â WW1
Aug 10 at 23:54
add a comment |Â
up vote
0
down vote
favorite
up vote
0
down vote
favorite
A family paid 12 percent of its annual after-tax income on food last year. This amount was equal to 10 percent of its annual before-tax income last year. Which of the following is closest to the percent of the family's annual before-tax income that was paid for taxes last year?
A. 8%
B. 12%
C. 17%
D. 20%
E. 25%
My thoughts are set the after-tax income as x and before-tax income as y, then 0.12x = 0.10y, meaning y = 1.2x. And here is where I got stuck, please help me with this problem.
percentages
A family paid 12 percent of its annual after-tax income on food last year. This amount was equal to 10 percent of its annual before-tax income last year. Which of the following is closest to the percent of the family's annual before-tax income that was paid for taxes last year?
A. 8%
B. 12%
C. 17%
D. 20%
E. 25%
My thoughts are set the after-tax income as x and before-tax income as y, then 0.12x = 0.10y, meaning y = 1.2x. And here is where I got stuck, please help me with this problem.
percentages
edited Aug 11 at 0:15
David G. Stork
7,8762930
7,8762930
asked Aug 10 at 23:42
Hina
333
333
HINT: $y-x=t$ where $t$ represents tax paid, you want to calculate $$frac tx$$
â WW1
Aug 10 at 23:54
add a comment |Â
HINT: $y-x=t$ where $t$ represents tax paid, you want to calculate $$frac tx$$
â WW1
Aug 10 at 23:54
HINT: $y-x=t$ where $t$ represents tax paid, you want to calculate $$frac tx$$
â WW1
Aug 10 at 23:54
HINT: $y-x=t$ where $t$ represents tax paid, you want to calculate $$frac tx$$
â WW1
Aug 10 at 23:54
add a comment |Â
1 Answer
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Let $a$ be the after-tax income. Then
$$frac12100a$$
is the after-tax income spent on food.
Let $b$ be the before-tax income. Then
$$frac10100b=frac12100a.$$
You need to find
$$1-fracab.$$
add a comment |Â
1 Answer
1
active
oldest
votes
1 Answer
1
active
oldest
votes
active
oldest
votes
active
oldest
votes
up vote
1
down vote
accepted
Let $a$ be the after-tax income. Then
$$frac12100a$$
is the after-tax income spent on food.
Let $b$ be the before-tax income. Then
$$frac10100b=frac12100a.$$
You need to find
$$1-fracab.$$
add a comment |Â
up vote
1
down vote
accepted
Let $a$ be the after-tax income. Then
$$frac12100a$$
is the after-tax income spent on food.
Let $b$ be the before-tax income. Then
$$frac10100b=frac12100a.$$
You need to find
$$1-fracab.$$
add a comment |Â
up vote
1
down vote
accepted
up vote
1
down vote
accepted
Let $a$ be the after-tax income. Then
$$frac12100a$$
is the after-tax income spent on food.
Let $b$ be the before-tax income. Then
$$frac10100b=frac12100a.$$
You need to find
$$1-fracab.$$
Let $a$ be the after-tax income. Then
$$frac12100a$$
is the after-tax income spent on food.
Let $b$ be the before-tax income. Then
$$frac10100b=frac12100a.$$
You need to find
$$1-fracab.$$
answered Aug 10 at 23:51
Cleric
3,06632463
3,06632463
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add a comment |Â
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HINT: $y-x=t$ where $t$ represents tax paid, you want to calculate $$frac tx$$
â WW1
Aug 10 at 23:54