Because he’s taxed by his home planet, Mork pays a tax rate of 45% on his income, while Mindy pays...
Because he’s taxed by his home planet, Mork pays a tax rate of 45% on his income, while Mindy pays a rate of only 20% on hers. If Mindy earned 4 times as much as Mork did, what was their combined tax rate?
Answer/Solution
25%
Steps/Work
Let x be Mork's income, then Mindy's income is 4x.
The total tax paid is 0.45x + 0.8x = 1.25x
1.25x / 5x = 0.25
The answer is B.
The total tax paid is 0.45x + 0.8x = 1.25x
1.25x / 5x = 0.25
The answer is B.