Ratios and Proportions
A ratio is a comparison of two values, usually written as a fraction.
A proportion is a statement that two ratios are equal. Many applications require solving for a variable in a proportion.
Example
Property taxes for a residential property are proportional to the assessed value of the property. Assume that a certain property in a given neighborhood is assessed at \(\$234{,}100\) and its annual property taxes are \(\$2{,}518.92\text{.}\) What are the annual property taxes for a house that is assessed at \(\$287{,}500\text{?}\)
Let \(T\) be the annual property taxes (in dollars) for a property assessed at \(\$287{,}500\text{.}\) We can write and solve this proportion:
\begin{align*}
\frac{\text{tax}}{\text{property value}}\amp=\frac{\text{tax}}{\text{property value}}\\
\frac{2518.92}{234100}\amp=\frac{T}{287500}\\
\multiplyleft{234100\cdot287500}\frac{2518.92}{234100}\amp=\frac{T}{287500}\multiplyright{234100\cdot287500}\\
287500\cdot2518.92 \amp=T\cdot 234100\\
\frac{287500\cdot 2518.92}{234100} \amp=\frac{234100T}{234100}\\
T\amp\approx3093.50
\end{align*}
The property taxes for a property assessed at \(\$287{,}500\) are \(\$3{,}093.50\text{.}\)