when leo imported a certain item , he paid a 7 percent import tax on the portion of the total value of the item in excess of $ 1000 . if the amount of the import tax that leo paid was $ 87.50 , what was the total value of the item ?
let the value of the item be $ x , then 0.07 ( x − 1000 ) = 87.5 - - > x − 1000 = 1250 x − 1000 = 1250 - - > x = 2250 . answer : c .
add(divide(87.5, divide(7, const_100)), 1000)