# Problem #1340

 1340 Last year Mr. Jon Q. Public received an inheritance. He paid $20\%$ in federal taxes on the inheritance, and paid $10\%$ of what he had left in state taxes. He paid a total of $10500$ for both taxes. How many dollars was his inheritance? $(\mathrm {A})\ 30000 \qquad (\mathrm {B})\ 32500 \qquad(\mathrm {C})\ 35000 \qquad(\mathrm {D})\ 37500 \qquad(\mathrm {E})\ 40000$ This problem is copyrighted by the American Mathematics Competitions.
Note: you aren't logged in. If you log in, we'll keep a record of which problems you've solved.