Question

Ria has to pay 20% tax on any income above £10,000 per year.
Ria's salary before tax is £2,500 per month.
Calculate the amount of money she receives after-tax each year.

Answer 1

Answer:

29080

Step-by-step explanation:

question: Ria has to pay 20% tax on any income above £11,000 per year. Ria's salary before tax is £2,800 per month. Calculate the amount of money she receives after tax each year.

Answer 2

Given,

Ria has to pay 20% tax on any income above £10,000 per year.

Ria's salary before tax is £2,500 per month.

To Find,

Calculate the amount of money she receives after-tax each year.

Solution,

Here, we have

Ria's per month salary before tax = £2,500

The tax rate on any income above £10,000 per year = 20%

So,

Ria's annual salary before tax = £2,500 x 12 = £30,000

Ria's annual salary after tax = £30,000 - (20% of £30,000)

                                              = £30,000 - £6,000

                                              = £24,000

Hence, Ria receives £24,000 after-tax each year.