Word Problem No.4 (Property Tax) -- To Find the Worth of the Property when Tax Amount and Tax Rate % are given

Haris paid the property tax of Rs.2,068 at the rate of 0.8%. Find the worth of property.

Given:

Property tax = Rs. 2,068
Tax rate = 0.8%

To Find:

Worth of the property =?

Solution:

1st Method:

By using the unitary method
0.8% of the worth of property = Rs.2,068
1% of the worth of property = `{\frac2068{0.8}}`
100% of the worth of property = Rs. `{\frac2068{0.8}}` x 100 

100% of the worth of property = Rs.258,500.
The worth of Haris's property is Rs.258,500.

2nd Method: (by using Formula)

The General Formula for Property Tax is 

To find the worth of Property from the above equation, it can be arranged by using basic mathematic rules.

By putting values
Worth of property = Rs. `{\frac2068{0.8}}` x 100 

Worth of property = Rs.258,500.

The worth of Haris's property is Rs.258,500.

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Job & Exam Mathematics Rare (JEMrare)

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Word Problem No. 4
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Property Tax

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Word Problem No. 3  ⇚ Financial Arithmetic Main Manu ⇛ Word Problem No. 5