To solve this problem, we are going to set up an equation. However, first we need to convert the percentages to decimals by dividing by 100.
15% = 0.15 , 7.5% = 0.075
Now, we should substitute in our given information into our equation and let our unknown value be equal to the variable x.
0.15(500) = 0.075x
Then, we should simplify our equation by multiplying together the two factors on the left side of the equation.
75 = 0.075x
Finally, we should divide both sides of the equation by 0.075 to get the variable x alone.
x = 1000
Therefore, your answer is 1000.
Hope this helps!
