Question

. The salary of a person is 28000 rupees. His salary increases, which reduces the
income tax rate from 8.5% to 7%. Find the increase in his salary if he pays the same
income tax under both the situation.

Answer 1

Answer:

Increase in salary is 6000 Rupees

Answer 2

Increase in his salary is 6000 Rs

Given:

The salary of a person is 28000 Rs.

When his salary increases the tax rate reduces from 8.5% to 7%

To find:

Find the increase in his salary if he pays the same income tax under both the situation.

Solution:

Given salary of person = 28000 Rs

Rate of income tax = 8.5%

therefore, the tax paid = 8.5% of 28000

⇒ $\frac{8.5}{100}(28000)$ = 2380 Rs

Let increase in salary is x

⇒ Increased salary = (28000+x)

When salary increases the rate of income tax reduces to 7%

therefore, the tax paid = 7% of (28000+x)

⇒ $\frac{7}{100} (28000+x)$ = $\frac{7(28000+x) }{100}$

From given data in both situations he pays same tax

⇒ 2380 = $\frac{7(28000+x) }{100}$

⇒ 7(28000+x) = 2380 (100)

⇒ 196000 + 7x = 238000

⇒ 7x = 42000

⇒ x = 6000 Rs

Therefore, increase in his salary = 6000 Rs

#SPJ2