You visited us 1 times! Enjoying our articles? Unlock Full Access!

Byju's Answer

Standard IX

Mathematics

Ratio and Proportion

A tax payer i...

Question

A tax payer is exempted of income tax for the first Rs. $100000$ of his annual income but for the rest of the income he has to pay a tax at the rate of $20 %$ . If he paid Rs. $3160$ as income tax for a year his monthly income is

Rs.

11580

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Rs.

103160

No worries! We‘ve got your back. Try BYJU‘S free classes today!

13610

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Rs.

9650

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D Rs. $9650$
Let the annual income of the person be Rs. $x$
Then $20 %$ of $(x - 100000) = 3160$
$\Rightarrow x - 100000 = \frac{3160 \times 100}{20} = 15800$
$\Rightarrow x = 115800$
$∴$ Monthly income $=$ Rs. $\frac{115800}{12} =$ Rs. $9650$

Suggest Corrections

Similar questions

Q. In the financial year 2015-16, Sudehanshu's annual income is Rs.

7, 10, 000

(excluding house rent allowance). He deposits Rs.

9, 000

monthly in General Provident Fund (G.P.F) account. He also deposits RS.

80, 000

in his P.P.F account. Calculate the income tax paid by Sudhanshu while maximum limit of rebate on saving is Rs.

1.5

lakh. Rates of income tax are as follows:
(i) Upto Rs.

2, 50, 000

Income Tax Nil
(ii) From Rs.

2, 50, 001

to RS.

5, 00, 000

10

% of income exceeding Rs.

2, 50, 00

(iii) From Rs.

5, 00, 001

to Rs.

10, 00, 000

Rs.

25, 000 + 20

% of increase exceeding Rs.

5, 00, 000

In addition to it

3

% educational cess is charged on payable Income Tax.

Q. A man's income is increased by Rs 1200 and at the same time the rate of tax to be paid is reduced from 12% to 10%. He now pays the same amount of tax as before. What is his increased income if 20% of his income is exempted from tax in both the cases ?

Q. Pratap paid

20 %

of this salary as income tax. if he is left with

R s 8, 400

after paying the tax, find his salary.

Q. In a financial year monthly salary of a person is Rs.

50, 000

. He deposited Rs.

60, 000

in Prime Minister's relief fund on which income tax rebate is

100

%. He denoted RS.

20, 000

to a hospital on which income tax rebate is

50

%. He invests RS.

7, 000

per month in G.P.F. Rs.

15, 000

annually in L.I.C and purchases N.S.C for Rs.

35, 000

. Find income tax to be paid by him in that financial year. Rates of income tax are as follows:

100

% rebate up to total savings of Rs.

1, 00, 000

Taxable income	Income Tax
(i) Upto Rs. $2, 00, 000$	Nil
(ii) FRom Rs. $2, 00, 001$ to Rs. $5, 00, 000$	$10$ % of amount exceeding RS. $2, 00, 000$

In addition Education Cess:

3

% of income tax.

Question 54

In a year, Ravi earns Rs. 360000 and paid Rs. 24000 as income tax.
Find the ratio of his
a) income to income tax.
b) income tax to income after paying income tax.

Join BYJU'S Learning Program

A tax payer is exempted of income tax for the first Rs. 100000 of his annual income but for the rest of the income he has to pay a tax at the rate of 20%. If he paid Rs. 3160 as income tax for a year his monthly income is

The correct option is D Rs. 9650Let the annual income of the person be Rs. x Then 20% of (x−100000)=3160⇒x−100000=3160×10020=15800⇒x=115800∴ Monthly income = Rs. 11580012= Rs. 9650

A tax payer is exempted of income tax for the first Rs. $100000$ of his annual income but for the rest of the income he has to pay a tax at the rate of $20 %$ . If he paid Rs. $3160$ as income tax for a year his monthly income is

The correct option is D Rs. $9650$
Let the annual income of the person be Rs. $x$
Then $20 %$ of $(x - 100000) = 3160$
$\Rightarrow x - 100000 = \frac{3160 \times 100}{20} = 15800$
$\Rightarrow x = 115800$
$∴$ Monthly income $=$ Rs. $\frac{115800}{12} =$ Rs. $9650$