Q:

Your take home pay is $1500 and you have 22% withheld in taxes. What is your gross pay?

Accepted Solution

A:
We have been given that the take home pay is $1500 and 22% is withheld as taxes.Let us assume that the gross pay is x dollars. Therefore, take home pay must be 78% of x because 22% of the pay is withheld as taxes, so you get to take home only 78% of the gross pay.Since we have been given that take home pay is $1500 and it is 78% of the total gross pay. Therefore, we can set up an equation:[tex]78\%\text{ of }x=1500\\\frac{78}{100}x=1500\\0.78x=1500\\x=\frac{1500}{0.78}\\x=\$1923.08[/tex]Therefore, gross pay is $1923.08