BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

GMAT prep income tax problem

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Source: — Problem Solving |
Junior | Next Rank: 30 Posts
Posts: 10
Joined: Sat Jan 02, 2010 6:59 pm

by raviraushanjha » Thu Jan 07, 2010 7:52 pm
Let the Annual Income be = I

A) 2% of Annual Income = 2I/100

B) Average of 100 currency and 1% of annual Income = (I/100 + 100) / 2

Total Income Tax = A + B

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

Simplify

= 4I/200 + I/200 + 10000/200

= 5I/200+ 10000/200

= I/40+ 50

I hope this clarifies.
Top
Post new topic Post Reply
• Page 1 of 1