Question

Ben bought a local artist's painting for $2,100. Several years later. Ben sold it for $2,700. The year Ben sold the painting. He was in the 15% tax bracket. Ben's gain on the picture will be taxed at:

A-15%
B-25%
C_28%
D-33%

Answer 1

the correct answer is C: 28%

to solve you have to subtract the amount of change, so 2700-2100= 600
then you take 600 divide by the original number which is 2100. so your equation is change divided by original, or in this case 600/2100, when you divide the equation you get an answer of 0.28, you then have to move the decimal 2 places to the right, to get an answer of 28%

hope this helped! :)