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

Solution:

We suppose his income is  ;

;

instead !

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 !

1-e

So, tax is 4.67 Rs

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