Question

The yearly income of a family was Rs. 5,00,000. Tax was
exempted upto Rs. 1,50,000. If the tax levied for the first
Rs. 2,00,000 was 10% and for the rest 15 %, find how
much tax will be paid
in a year? (Ans: R5, 42500)​

Answer 1

Answer:

answer is very easy

Step-by-step explanation:

Tax included =5,00,000-1,50,000=3,50,000Now,3,50,000= 2,00,000+1,50,000=2,00,000*10%+1,50,000*15%=20,000+22,500=42,500 Ans Hence,42,500amount of tax will be paid in ayear.