Answer:
$700
Step-by-step explanation:
Given:
The ratio of taxes to profits is 7:3.
The taxes and profits total $1000.
Question asked:
Amount of taxes = ?
Solution:
Let ratios = [tex]x[/tex]
And amount of taxes = [tex]7x[/tex]
Then amount of profit = [tex]3x[/tex]
Sum of amount of taxes and profits = $1000.(given)
[tex]= 7x + 3x = 1000\\= 10x = 1000\\[/tex]
by dividing both side by 10
[tex]x = 100[/tex]
Thus, amount of taxes = [tex]7x[/tex] = [tex]7\times100[/tex] = [tex]700[/tex]
Thus, amount of profits [tex]= 3x = 3\times100 = 300[/tex]
