Word Problem 2 (tax and income tax)
Problem 2 : If income tax be reduced from 3-1/2 % to 3-1/3%, the difference it makes to man whose annual income is Rs 2500 is;
a. Rs 4.50 b. Rs 4-2/3 c. Rs 4.67 b. Rs 5
Income tax calculation, quantitative mathematics
We suppose his income is ;
Now we try to find difference by given information.
Difference in o;ld and new taxes;
So, we can say that if income is 100 Rs then difference of tax is Rs 1/6
Now we use unitory method to calculate difference of tax !
So, tax is 4.67 Rs