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Junior | Next Rank: 30 Posts
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by deltaforce » Wed Jul 15, 2009 11:12 am
In 2006 Mr. Jacobs paid 4.8 percent of his taxable income in state taxes. In 2007 what percent of Jacob's taxable income did he pay in state taxes?

1) In 2006 Mr. Jacobs taxable income was 42,500
2) In 2007 Mr. Jacobs paid $ 232 more in state taxes than he did in 2006

org ans E

Think the answer shud be c, am i missing something in the terminology?

yr responses are appreciated
Thanks
Delta
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by Morgoth » Wed Jul 15, 2009 11:20 am
You can find the total taxes Mr. Jacob paid in 2007, but you cannot find what is the percentage of taxes that he paid out of his total income, because you don't know the total taxable income for 2007.

taxes paid in 2006 = 4.8% of 42500 = 2040
taxes paid in 2007 = 2040 + 232 = 2272

percent of Jacob's taxable income did he pay in state taxes =
[2272 / (total taxable income of 2007)] * 100

Since we don't know the total taxable income of 2007, both statements together are insufficient.

Hence E.
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Junior | Next Rank: 30 Posts
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Figures

by deltaforce » Fri Jul 17, 2009 7:24 am
thanks dude -- i was assuming a diff variable
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