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A college awards a scholarship of $5000 to a student. If the student has to pay

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Question: A college awards a scholarship of $5000 to a student. If the student has to pay 15% tax on the scholarship, how much does he receive after tax?

Options:

  1. $4250
  2. $4500
  3. $4750
  4. $4000

Correct Answer: $4250

Solution: 

Tax = 15% of $5000 = $750. Amount received = $5000 - $750 = $4250.

A college awards a scholarship of $5000 to a student. If the student has to pay

Practice Questions

Q1
A college awards a scholarship of $5000 to a student. If the student has to pay 15% tax on the scholarship, how much does he receive after tax?
  1. $4250
  2. $4500
  3. $4750
  4. $4000

Questions & Step-by-Step Solutions

A college awards a scholarship of $5000 to a student. If the student has to pay 15% tax on the scholarship, how much does he receive after tax?
  • Step 1: Identify the total amount of the scholarship, which is $5000.
  • Step 2: Calculate the tax amount by finding 15% of $5000.
  • Step 3: To find 15% of $5000, multiply $5000 by 0.15 (which is 15% as a decimal).
  • Step 4: The calculation is $5000 * 0.15 = $750. This is the tax amount.
  • Step 5: Subtract the tax amount from the total scholarship amount to find out how much the student receives after tax.
  • Step 6: The calculation is $5000 - $750 = $4250.
  • Step 7: The final amount the student receives after tax is $4250.
  • Percentage Calculation – Understanding how to calculate a percentage of a given amount.
  • Subtraction – Performing subtraction to find the net amount after tax.
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