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Word problem 1 (tax and income tax)

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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