Question

Last year Mr. John Q. Public received an inheritance. He paid $20\%$ in federal taxes on the inheritance, and paid $10\%$ of what he had left in state taxes. He paid a total of $\$10{,}500$ for both taxes. How many dollars was the inheritance?

Answer 1

37,500

Explanation:

0.2x+0.1(x−0.2x)=105000.2x+0.1(x−0.2x)=10500

0.3x−150x=105000.3x−150x=10500

15x−x50=1050015x−x50=10500

x=10500∗5014=1500∗25=37500