Question

When income tax is 3 paise in a rupee, a person's net income is ₹ 237650. What will it be when the income tax is raised to 7 paise?

Answer 1

Income tax = 3 paise or 0.03 rupee

Net income= 237650

Actual income be 'x'

then Net income =

x × 0.03 = 237650

x = 237650/0.03

x = 7921667 = actual income...

then if the tax is raised to 7 paise or 0.07 rupee then the net income will be

net income = 7921667 × 0.07 = 554517