the monthly income is Rs14,000
and tax up to the total income of Rs 1 25000
is exempted. If he pays a tax of Rs.6450,
at what percent has the tax been paid?
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Answer:
Income = 14,000 x 12 = 1,68,000
Exempted amount = 1,25,000
Taxable amiunt = 43,000
Tax rate = 6,45,000/ 43,000 = 15%
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