2007 AMC 12A Problems/Problem 5
Problem
Last year Mr. Jon 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 $10500 for both taxes. How many dollars was his inheritance?
Solution
After paying his taxes, he has .8*.9=.72 of the inheritance left. Since 10500 is .28 of the inheritance, the whole inheritance is 10500/.28=37500
