Question

Q13. If the income tax is increased by 19% the net income is reduced by 1%. The rate of income tax is:

Answer 1

Answer:

19% of income tax = 1% of net income

$\frac{Income tax }{Net income} = \frac{1}{19}$

Total Income = tax + Net Income

=> 1+19

=> 20

So, Rate of Income Tax

$\frac{1}{20}$ × 100

=>Rate of Income Tax is  5%

===============

@GauravSaxena01