Question

If a man originally paid ​$4000 in property​ taxes, what will his new tax payment be if he saves 8​% this​ year?

Answer 1

Answer : The new tax payment when he saves 8 % tax this year is, $3680

Explanation :

As we are given that,

Original property​ tax paid by a man = $4000

Percent rate of saving tax = 8 %

First we have to calculate the amount of tax he saved.

Amount of tax he saved = $\ 4000\times 8\%$

Amount of tax he saved = $\ 4000\times \frac{8}{100}$

Amount of tax he saved = $320

Now we have to calculate his new tax payment when he saves 8 % tax this year.

New tax payment = Original property​ tax - Amount of tax he saved

New tax payment = $4000 - $320

New tax payment = $3680

Thus, the new tax payment when he saves 8 % tax this year is, $3680