Question

if the rate of income tax is increased by 18% and the rate of net income is decreased by 2% then what is the rate of the income tax....?​

Answer 1

let total amount = 100 =100

income tax rate = x% = x%

then , Income Tax amount x = x

net income = (100-x) = (100-x)

increasing Income Tax amount = decrease in net income

therefore ,

24%24% of xx=1%=1% of (100-x)(100-x)

24x=100-x25x=100x=4