mr sood deposited rs 17000 in a bank at the rate of 12% per annun,if 30% is deducted as income tax on the intrest find the net annunal income?
Answers
Answered by
120
P=17000 , R=12 , T=1year
S.I.=p*r*t/100
=17000*12*1/100
=2040
Income tax = 30% of interest
= 30*2040/100
=612
Net interest = 2040-612=1428
Thus,net interest is 1428
Answered by
9
Answer:
₹1428
Step-by-step explanation:
SI = Principal × Rate ×Time / 100
= 17000×12× 1 /100
= 170×12
= 2040
Income tax is 30% on interest
Then annual income
= (70/100)×2040
= 7×204
= ₹1428
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