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Formula for CI

Vicky's annua...

Question

Vicky's annual income is $R s 52, 000$ . For the first $R s .38, 000$ he does not have to pay any tax.For the amount above, he has to pay a tax of $20 %$ .How much tax should Vicky pay?

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Solution

Amount Above $38000$ is $52000 - 38000 = 14000$

So ,he has to pay 20% of 14000
$= \frac{20}{100} * 14000 = 2800$

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