Percent

theachiever wrote:In Country X a returning tourist may import goods with a total value of 500$ or less tax free,but must pay an 8 percent tax on the portion of the total value in excess of 500$. What tax must be paid by a returning tourist who imports goods with a total value of 730$?


A.58.40
B.40
C.24.60
D.18.40
E.16.00

puneetkhurana2000's solution is great.
I'd just like to point out that the answer choices allow us to forego actually calculating 8% of $230.

We know that 8% of $200 is $16, so 8% of $230 is greater than $16. Eliminate E
We also know that 8% of $300 is $24, so 8% of $230 is less than $24. Eliminate A, B, C

By the process of elimination, the correct answer is D

Takeaway: Yes, I know that calculating 8% of $230 is not a huge task. However, checking the answer choices before performing any calculations can sometimes save you a lot of work.

Cheers,
Brent