Question

The income of a man is rs.28800 now his income is increase and tax rate reduce from 12% to 10%. while in both the situation 30% income is tax free. find the incease in his initial income if he paid equal tax in both cases.

Answer 1

Step-by-step explanation:

Did you mean: The income of a man is rs.28800 now his income is increase and tax rate reduce from 12% to 10%. while in both the situation 30% income is tax free. find the increase in his initial income if he paid equal tax in both cases

Answer 2

Answer:

initial income= 28800

final incom=(28800+x)

...since 30% is tax free in both cases

therefore

tax is to be paid on 70% incom in both cases

initial income=28800×70/100

final income=(28800+x)×70/100

and person pay same amount of taxes

so accord to ques

28800×70/100 ×12/100=(28800+x)×70/100 ×10/100

...on solving we get

x=5760 increase in initial income