Answer: $70 on colored paper
Step-by-step explanation: For this problem we will be solving for 7% of 1000 to determine the amount of money spent on colored paper.
We will write a percent equation for x, the amount spent on colored paper.
Step 1: 7/100 = x/1000
Step 2: 7/100 x 1000 = x/1000 x 1000
Step 3: 7000/100 = x
Step 4: 70 = x
So x, also known as the amount spent on colored paper is $70