The taxes on a piece of property valued at $40,000 were $860. At the same rate, what would be the taxes on property valued at $5

Question

iogann1982 [59]

3 years ago

13

The taxes on a piece of property valued at $40,000 were $860. At the same rate, what would be the taxes on property valued at $5

5,000?

Mathematics

1 answer:

agasfer [191] · Answer 1 · 2022-11-03T00:58:03+03:00

agasfer [191]3 years ago

6 0

Ratio and Proportion Method
Since both are at the same rate, then ratio and proportion can be applied here

If $40000 = $860

Then $55000 =55000x(860/40000)
=$1182.50

Therefore the taxes which would be on $55000 is $1182.50