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The taxes on a piece of property valued at $40,000 were $860. At the same rate, what would be the taxes on property valued at $55,000?

The taxes on a piece of property valued at $40,000 were $860. At the same rate, what would be the taxes on property valued at $55,000?
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The taxes on a piece of property valued at $40,000 were $860. At the same rate, what would be the taxes on property valued at $55,000?

User EDY ARMENDARIZ
by
8.4k points

1 Answer

4 votes
Ratio and Proportion Method
Since both are at the same rate, then ratio and proportion can be applied here

If $40000 = $860

Then $55000 =55000x(860/40000)
=$1182.50

Therefore the taxes which would be on $55000 is $1182.50
User Chandan Kumar
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7.9k points
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