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by yvonne12 » Sun Apr 15, 2007 5:49 pm
before being simplified, the instructions for computing income tax in country R were to add 2 percetn of one's annual income to the average of 100 units of country's R's currency and 1 percent of one's annual income. Which of the following represents the simplified formula for computing the income tax, in country's R's currency, for a person in that country whose annual income is I?

sorry I forgot to right down the answers and exited the GMAT without saving.

could anyone work this problem?
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by jayhawk2001 » Sun Apr 15, 2007 8:05 pm
2%I + (100 + 1%I)/2
= 2I/100 + 50 + I/200
= 50 + I/40
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by Cybermusings » Mon Apr 16, 2007 4:44 am
Jay...could you clarify this....I am slightly confused about the equation
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by jayhawk2001 » Mon Apr 16, 2007 8:31 pm
Cybermusings wrote:Jay...could you clarify this....I am slightly confused about the equation
Here's the question in all its glory ...
wrote: before being simplified, the instructions for computing income tax in country R were to add 2 percetn of one's annual income to the average of 100 units of country's R's currency and 1 percent of one's annual income. Which of the following represents the simplified formula for computing the income tax, in country's R's currency, for a person in that country whose annual income is I?
The second part is average of 100 units of R's currency and 1% income,
which boils down to (100 + 1%I)/2

The first part is 2% of I

Hence total = 2%I + (100 + 1%I)/2
= 2I/100 + 100/2 + I/200
= 50 + 5I/200
= 50 + I/40
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