Problem #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?

$(\mathrm {A})\ 30000 \qquad (\mathrm {B})\ 32500 \qquad(\mathrm {C})\ 35000 \qquad(\mathrm {D})\ 37500 \qquad(\mathrm {E})\ 40000$

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Instructions for entering answers:

  • Reduce fractions to lowest terms and enter in the form 7/9.
  • Numbers involving pi should be written as 7pi or 7pi/3 as appropriate.
  • Square roots should be written as sqrt(3), 5sqrt(5), sqrt(3)/2, or 7sqrt(2)/3 as appropriate.
  • Exponents should be entered in the form 10^10.
  • If the problem is multiple choice, enter the appropriate (capital) letter.
  • Enter points with parentheses, like so: (4,5)
  • Complex numbers should be entered in rectangular form unless otherwise specified, like so: 3+4i. If there is no real component, enter only the imaginary component (i.e. 2i, NOT 0+2i).

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