gross salary of $2K, net $1465.20: what percent was withheld

[Nikki111]

Assume you get your paycheck and cash it for $1465.20. If your gross salary was $2,000, what % was withheld for taxes, insurance,etc?

 

[jwpaine]

Hi.

DIVIDE!

(1465.20/2000) = 0.7326

so...they removed (1-(0.7326)) = .2674 * 100 = 26.74%



CHECK

.2674(2000) = 2000-1465.20

 

[Denis]

or:
removed = 2000 - 1465.20 = 534.80

534.80 / 2000 = .2674 or 26.74%