Question

A state gets it money from a state lottery, a property tax, a sales tax of 5%, and an excise tax. This year it projects that it will receive $24 million from the state lottery, $32 million from the property tax, and 14 million from the excise tax. If the state needs $100 million to cover it's expenses, how many dollars worth of taxable items must be purchased in the state this year for the state to break even?

A. $600,000,000

B. $150,000,000

C. $1,500,000

D. $ 30,000,000​

Answer 1

Answer:A

Step-by-step explanation:

Answer 2

The items of worth $600,000,000 should be purchased in the state to meet the requirement, the correct option is A.

What is an Equation?

An equation is a mathematical statement that is formed when two algebraic expressions are equated using an equal sign.

The state has predicted to get $24 million from the state lottery,

The amount from property tax is $32 million

The amount form excise tax is $14 million

The state needs $100 million to cover its expenses

A sales tax of 5% is charged by the state

Let the total sales is $x in million dollars then the equation that can be formed is

24 + 32 +14 +(5/100 ) * x = 100

70+ (5/100 ) * x = 100

(5/100 ) * x = 100 -70

(5/100 ) * x = 30

x = 30 * 100 / 5

x = $600,000,000

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