Gisela would owe $15,500 in taxes each year if she were not eligible for any tax deductions. This year, Gisela is eligible for tax deductions that reduce the amount of taxes she owes by $2,325.00. If these tax deductions reduce the taxes Gisela owes this year by d%, what is the value of d?
Correct answer: C. 15
- A. 5
- B. 10
- C. 15
- D. 20
Explanation
The correct answer is 15. To determine the percentage decrease, you use the formula: (Reduction Amount / Original Amount) * 100. In this case, the reduction amount is $2,325.00, and the original amount is $15,500. Therefore, the calculation is (2,325 / 15,500) * 100 = 15%. This means the tax deductions reduce the amount of taxes Gisela owes by 15%.Option A (5%) and Option B (10%) are too low because they do not account for the actual percentage reduction calculated by the formula. Option D (20%) is too high for the same reason. Only Option C correctly calculates the percentage decrease.
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