Question

Ricey paid $1500 in taxes for his premises. If the tax is 15% of the value of the premises, what is the value of his premises?

Answer 1

Answer:

The premises is worth $10,000.

Step-by-step explanation:

The tax represents 15% of the value of the premises.  So we need to know 100% of that value.

$\frac{1500}{0.15}$=10,000