Question

Mr Sharma deposited Rs 20000 as a fixed deposit in a bank at 10% per annual. If

30%S is deducted as income tax on the interest earned, find his annual income.​

Answer 1

Answer:

Step-by-step explanation:

Now the interest of Rs. 20,000 in a year at an interest 10% is  Rs.  

100

20,000×10

​  

=2,000.

Now according to the problem, income tax will be Rs.  

100

2000×30

​  

=600.

So his final income is Rs. 2,000−600=1,400.