Question

Trish's take-home pay each month is $4,784.95. If she pays 26.2% in taxes, what is her monthly gross income? Round your answer to the nearest cent.

Answer 1

Let's define

x: gross income

26.2% of the gross income goes to pay taxes. That is, 0.262x

The gross income minus taxes make the take-home pay. Her take-home pay is $4,784.95, then

x - 0.262x = 4,784.95

0.738x = 4,784.95

x = 4,784.95/0.738

x = 6483.67

Her monthly gross income is $6,483.67