Andrew won a cash prize on a game show. After paying taxes of 29% on the original cash prize, he had $28,000 remaining. How much was the original cash prize?

36,120 was the original cash prize
let's put this in an equation ->
100 29 ​ = y 28 , 000 ​
a clever way to figure out y, which here would be the original cash prize, is as follows:
28,000 ÷ 100 = 280 280 × 29 = 8120 (this is the tax he paid)
now, add the tax to what he recieved -> 28000 + 8120 = 36120

Answered by stradlater | 2024-06-10

The original cash prize was $39,436.62.
Andrew paid taxes of 29% on his game show winnings and was left with $28,000. To find the original cash prize amount, we need to consider the remaining 71% (100% - 29% = 71%) of the prize that constitutes the $28,000 he has after taxes. We can set up a simple equation to find the original amount (O):
0.71 * O = 28,000
To find the original amount (O), we divide both sides of the equation by 0.71:
O = 28,000 / 0.71
O = 39,436.62
Therefore the original cash prize was $39,436.62.

Answered by SumeraAshfaq | 2024-06-24

The original cash prize that Andrew won was approximately $39,436.62. After paying 29% in taxes, he had $28,000 left. The calculation shows that this amount aligns with the tax paid on the original prize.
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Answered by stradlater | 2024-11-04