Question

If susie paid $493 in taxes on gross income of $2301, what percent of her gross pay is being taken out in taxes?

Answer 1

Total amount paid by Susie in taxes = $493

Total gross income of Susie = $2301

Percentage of Susie's gross pay being taken out in taxes is =
`(total tax paid)/(total gross income) *100`

it becomes,
`(493)/(2301) * 100`

= 21.425%

Hence, Susie paid 21.425% of her gross income in taxes.

Answer 2

Given that Susie paid $493 as taxes on gross income of $2301.

Let x% be the tax.

Then x% of 2301 is
`=2301*(x)/(100) = 23.01x`

But given 23.01x = 493

Divide with 23.01 on both sides to get x.

`x=(493)/(23.01) =21.43`

Hence 21.43% is the tax percentage.