Question

A certain entertainment tax on each ticket is levied by the state.


From the graph, find the amount of tax levied by the state if the amount raised from the ticket sold is $150,000.

• A. $30000
• B. $45000
• C. $37500
• D. $75000

Answer 1

The correct option is C $37500


From the graph let us consider the points (2,0.5) and (4,1)

We know,
$\text{Slope = Unit rate =}\frac{y_2-y_1}{x_2-x_1}$

Putting value, we get
$\text{Slope =}\frac{1-0.5}{4-2}$

$=\frac{0.5}{2}$

$=0.25$

$\text{Now, tax rate will be =}0.25\times 100=25\%$

$\text{Total amount raised from tickets sold =}\$150000$

$\text{∴ Tax levied =}25\%\times \$150000$
$=\frac{25}{100}\times \$150000$
$=\$37500$