Answer:
We need to earn $10,000 to buy that car.
Step-by-step explanation:
Let initial bank account balance = 0;
Suppose our income is $x.
Since 23% of income shpould be paid in taxes,
Money paid in taxes = 23/100x X
After paying taxes,
Money in our account = Income - Money paid in taxes;
Money in our account = x - 23/100x X
Money in our account = 77/100x X (equation 1)
Given,
Price of the car to be bought = $7700 (equation 2)
To be able to buy that car,
Money in account = Price of the car
From equation 1 and equation 2,
77/100x X = 7700
x= 7700 x 100/77
Therefore,
x = $10000.
Therefore
We need to earn $10000 to buy the car.
