Mrs. Sood deposited ? 17000 in a bank at the rate of 12% per annum. If 30% is deducted as income tax
on the interest, find the net annual income
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Step-by-step explanation:
P=17000, R=12, T=1year
S.l. 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 terest is 1428
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