Question

The ratio of taxes to profits is 7:3. Find the amount of taxes if the taxes and profits total $1000.

Answer 1

$700

Explanation:

Given:

The ratio of taxes to profits is 7:3.

The taxes and profits total $1000.

Question asked:

Amount of taxes = ?

Solution:

Let ratios =
`x`

And amount of taxes =
`7x`

Then amount of profit =
`3x`

Sum of amount of taxes and profits = $1000.(given)

`= 7x + 3x = 1000\\= 10x = 1000\\`

by dividing both side by 10

`x = 100`

Thus, amount of taxes =
`7x` =
`7*100` =
`700`

Thus, amount of profits
`= 3x = 3*100 = 300`