Question
Which of the following statements best describes the
principle of progressive taxation?Solution
Progressive taxation means the tax rate increases as the taxpayer's income increases, ensuring a more equitable distribution of the tax burden. It is based on the principle of ability to pay and is intended to reduce income inequality.
Simple interest earned on an amount of Rs.1400 at rate of R% per annum after 3 years is Rs.210. Find the simple interest earned on an amount of Rs.1600 ...
Rs. 2400 is deposited into scheme 'A' offering a simple interest rate of 25% per annum over a period of 8 years. Simultaneously, Rs. 2500 is placed in s...
Rs. 5000 is invested in scheme ‘A’ for 2 years and Rs. 8000 is invested in scheme ‘B’ for 2 years. Scheme ‘A’ offers simple interest of 16% ...
Simple interest on a sum of Rs.5100 at some r% is for t years is Rs.918. If r and t are integers and 1 < r < t, then find the minimum simple interest ea...
The simple interest accrued in five years on a principal of Rs. 50,000 is one – tenth of the principal. What is the rate of simple interest p.a.?
- A person invested Rs. 45,000 in two different schemes together. One scheme offers a simple interest of 9% p.a., while the other scheme offers a simple inte...
A sum of money triples itself in 12 years. Find the rate percent per annum.
Some amount out of Rs. 12000 was lent out at 10% per annum and the rest amount @ 16% per annum and thus in 5 years the total interest from both the amou...
The simple interest earned on ₹3,000 at a rate of 8% per annum for 4 years is ₹x. If ₹2,520 is the simple interest earned on ₹5,000 at a rate of...
A sum of money amounts to ₹8700 in 2 years at a simple interest rate of 8% per annum. If the same sum is invested at compound interest with the same r...
