Rafael made 20,000 in taxable income last year. Suppose the income tax rate is 15% for the first 8000 plus 17% for the amount over 8000. How much must Rafael pay in income tax for the last year?

Respuesta :

The answer is 3,240

Explanation:

To calculate the total income tax, it is necessary to calculate what is the 15% of 8000, and 17% for the remaining money, which is 12.000 (20,000 - 8,000= 12,000). Considering the statement specifies the 15% is paid for the first 8,000 and from this, the 17% is paid. Now to know the percentages you can use a simple rule of three, by considering 8000 and 12000 as the 100%. The process is shown below:

1. Write the values

[tex]8000 = 100[/tex]

[tex]x = 15[/tex] (the percentage you want to know)

2. Use cross multiplication

[tex]x =\frac{8000 x 15 }{100}[/tex]

[tex]x = 1200[/tex]

This means for the first 8000 the money Rafael needs to pay is 1,200

Now, let's repeat the process for the remaining money (12,000)

[tex]12000 = 100\\\\[/tex]

[tex]x = 17[/tex]

[tex]x = \frac{12000 x 17}{100}[/tex]

[tex]x = 2040[/tex]

Finally, add the two values [tex]1200 + 2040 = 3240[/tex]