Can anyone help me to better understand the explanation to this first degree eqn question? iMy main problem with this is
do the word in excess of generally mean subtraction is required?
Q:Leo imported a certain item, he paid 7% import tax on profit of the total value of the in excess of $1,000. If the amount of the import tax that Leo paid was $87.50, what was the total value of the item?
Soln: 7 % of value in excess of $1000 = 87.5
0.07 (x- 1000) = 87.5
x = 2,250
do the word in excess of generally mean subtraction is required?
Q:Leo imported a certain item, he paid 7% import tax on profit of the total value of the in excess of $1,000. If the amount of the import tax that Leo paid was $87.50, what was the total value of the item?
Soln: 7 % of value in excess of $1000 = 87.5
0.07 (x- 1000) = 87.5
x = 2,250
