Question

Define a variable, write an equation and solve: An investment increased 30% before taxes. $200 was withdrawn to pay taxes and the investor has $1500 remaining. What was the original investment?

Answer 1

Answer:

$1307.69

Step-by-step explanation:

Let the original investment be x.

Note that a 30% increase in a value is equal to multiplying a value by 130% and a withdrawal is to take out money. The final amount is $1500. Let’s write the equation with the information we have.

Equation:

130%x - 200 = 1500

(130/100)x = 1700

x = 1700(100/130) = $1307.69

I hope this helps! :)