The company earns 40% of its profit from services, another 40% - from renting its buildings and 20% from retail trading. And for December the company paid 225000 soums income tax. If the tax rate is 20%, then how much profit did the company make from each business?
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Given : The company earns 40% of its profit from services, another 40% - from renting its buildings and 20% from retail trading.
for December the company paid 225000 income tax.
tax rate is 20%
To Find : profit from each business
Solution:
Let say company made total Profit = P
Tax = 20% = (20/100)P = P/5
Tax = 225000
=> P/5 = 225000
=> P = 1125000
profit from services, = (40/100) 1125000 = 4,50,000
profit from renting its buildings = (40/100) 1125000 = 4,50,000
profit from retail trading = (20/100) 1125000 = 2,25,000
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