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## Total Value

When Leo imported a certain item, he made a 7 percent import tax on the portion of the total value of the item in excess of \$1,000. If the amount of the import tax that Leo paid was \$87.50, what was the total value of the item?

A. \$1,600
B. \$1,850
C. \$2,250
D. \$2,400
E. \$2,750

2. Good post? |
Originally Posted by Da_Gr8_Mperor
When Leo imported a certain item, he made a 7 percent import tax on the portion of the total value of the item in excess of \$1,000. If the amount of the import tax that Leo paid was \$87.50, what was the total value of the item?

A. \$1,600
B. \$1,850
C. \$2,250
D. \$2,400
E. \$2,750
7%(x) = 87.50
x= 1250

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(x-1000)7/100 =87.50

=> x-1000 = 8750/7 = 1250
=>x= 2250(ANS)

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