John and Ingrid pay 30% and 40% tax annually, respectively.
John and Ingrid pay 30% and 40% tax annually, respectively. If John makes $57000 and Ingrid makes $72000, what is their combined tax rate?
Answer/Solution
35.6%
Steps/Work
(1) When 30 and 40 has equal weight or weight = 1/2, the answer would be 35.
(2) When 40 has larger weight than 30, the answer would be in between 35 and 40. Unfortunately, we have 2 answer choices D and E that fit that condition so we need to narrow down our range.
(3) Get 72000/129000 = 24/43. 24/43 is a little above 24/48 = 1/2. Thus, our answer is just a little above 35.
Answer: D
(2) When 40 has larger weight than 30, the answer would be in between 35 and 40. Unfortunately, we have 2 answer choices D and E that fit that condition so we need to narrow down our range.
(3) Get 72000/129000 = 24/43. 24/43 is a little above 24/48 = 1/2. Thus, our answer is just a little above 35.
Answer: D