Mrs imran owns two plots of equal worth. The property tax rate is 2%.if she paid Rs 15000 as the property tax last year, what is the value of each plot owned by her

The value of each plot owned by Mrs imran is Rs 750000Solution:Given, Mrs imran owns two plots of equal worth.  The property tax rate is 2%.  She paid Rs 15000 as the property tax last year,  We have to find what is the value of each plot owned by her? Now let the worth of each plot be n. then total worth is 2nShe paid 2% of total worth = 15000  ⇒ 2% of 2n = 15000 Solving the above expression, we get,[tex]\begin{array}{l}{\rightarrow \frac{2}{100} \times n=15000} \\\\ {\rightarrow n=\frac{100}{2} \times 15000} \\\\ {\rightarrow n=50 \times 15000=750000}\end{array}[/tex]Hence, the value of each plot is Rs 750000.