Word problem 1 (tax and income tax)

Tax and deductions 0

Problem 1: The rent of a flat is 250 Rs per month. The house tax is to be charged 10% yearly, but 12% of the house rent is deducted for repair and other expenses. What is the amount of house tax?

Solution:

Monthly rent is given here, but tax is applied on yearly basis- so we will calculate one years rent first;

$Monthly Rent=250Rs$

$\Rightarrow Yearly Rent=250\times 12$

$\Rightarrow Yearly Rent=3000 Rs$

But 12 % of rent is deducted for repairing;

$\Rightarrow Deduction=\frac{12}{100} of Rent$

$\Rightarrow Deduction=\frac{12}{100} \times 3000$

$\Rightarrow Deduction=360 Rs$

So,

$Remaining Amount =3000-360 =2640 Rs$

10% of this remaining amount will be tax!

$\Rightarrow Tax= \frac{10}{100} of 2640$

$\Rightarrow Tax= \frac{10}{100} \times 2640$

$\Rightarrow Tax= 264 Rs$

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Word problem 1 (tax and income tax)

You may submit a MCQ or maths problem with solution tips here in the comment box below! If you could not solve anyone, you may submit a MCQ or maths problem without solution as well. We will try our level best to solve it for you! Cancel Reply

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Word problem 1 (tax and income tax)

You may submit a MCQ or maths problem with solution tips here in the comment box below! If you could not solve anyone, you may submit a MCQ or maths problem without solution as well. We will try our level best to solve it for you! Cancel Reply

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