Question

Mr. Mishra Earns ₹6,00,000 per annum. After paying his taxes , and spending ₹ 4,50,000 , he saves ₹ 1,10,000. What is the total percentage of tax that he pays on his total income.

• A. 7.5%
• B. 6.67%
• C. 8.25%
• D. 5.71%

Answer 1

The correct option is B 6.67%

Total earning = ₹6,00,000
Total expenditure = ₹4,50,000
Total savings = ₹1,10,000
Total amount remaining which is paid as taxes = ₹6,00,000 - (110000 + 450000) = ₹40,000
Percentage = $\frac{40000}{600000}\times 100$ = 6.67%