Question #b21b0
1 Answer
Feb 7, 2018
$72,000
Explanation:
Work backwards to solve this problem.
1) He has $22,000 left. Add the $32,000 he just spent for his car loan
22,000+32,000=54,000
So after he pays 25% in taxes, Jose has $54,000 before paying off his loan of $32,000.
2) Jose uses 25% of the total money received from the lottery ticket to pay taxes. 100%-25%=75%. We are working backwards, so the $54,000 we solved for in the last step would represent 75% of the money he won. From this, we can make a proportion:
Let x=the total amount of money Jose won
Explanation: 54,000 represents 75% of the total amount of money won, therefore, x represents 100% of the money.
3) Cross multiply
54,000•100=75x
5400000=75x
72000=x
Jose won $72,000 in total
