GMAT Problem Solving
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Source: GWD
Level: 3
When Leo imported a certain item, he made a 7 percent import tax on the portion of the total value of the item in excess of $1,000. If the amount of the import tax that Leo paid was $87.50, what was the total value of the item?
- A 1600
- B 1850
- C 2250
- D 2400
- E 2750