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by gbb » Thu Apr 02, 2009 12:20 pm
Before being simplified, the instructions for computing income tax in Country R were to add 2 percent f one's annual income to the average (arithmetic mean) of 100 units of Country R's currency and 1 percent of one's annual income. Which of the following represents the simplified formula for computing the income tax, in Country R's currency, or a person in that country whose annual income is I?

A 50 + I/200
B 50 + 3I/100
C 50 + I/4
D 100 + I/50
E 100 + 3I/100

please, help !!!

answer C
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by mike22629 » Thu Apr 02, 2009 12:35 pm
Are you sure its not supposed to be 5 + (I/40)?
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by gbb » Thu Apr 02, 2009 12:58 pm
sorry mike,

answer C = 50 + I/40

and NOT C = 50 + I/4 neither C = 5 + I/40

can you explain how did you get C?

thanks!!
Last edited by gbb on Thu Apr 02, 2009 1:01 pm, edited 1 time in total.
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by vittalgmat » Thu Apr 02, 2009 1:01 pm
Can u pls check the choices. esp C .. looks like there is a typo.

I think it should be I/40 + 50
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by gmat740 » Thu Apr 02, 2009 5:12 pm
2 percent of one's annual income = I *2/100

average (arithmetic mean) of 100 units of Country R's currency and 1 percent of one's annual income


[100 + I/100 ]/2 = 50 +I/200

Now Tax = I*2/100 +{ 50 + I/200 }

= 50 + I/40
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by mike22629 » Thu Apr 02, 2009 5:53 pm
Yea I meant I/40 + 50

And I did the same as GMAT740
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by GmatGreen » Thu Apr 02, 2009 8:26 pm
gmat740 wrote:2 percent of one's annual income = I *2/100

average (arithmetic mean) of 100 units of Country R's currency and 1 percent of one's annual income


[100 + I/100 ]/2 = 50 +I/200

Now Tax = I*2/100 +{ 50 + I/200 }

= 50 + I/40
Thanks for the explanation. Questions about taxes put me on edge, especially in April! (tax season in US)
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math

by hannahdavis » Thu Apr 02, 2009 10:52 pm
2 percent of annual income = I *2/100

average arithmetic mean and annual income


(100 + I/100 )/2 = 50 +I/200

Now Tax = I*2/100 +{ 50 + I/200 }

= 50 + I/40
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