Question
There are two slabs of income tax, 7% tax for income up
to 3 lakh and 12.5% for income above 3 lakh. Nitin tried to evade tax by hiding some of the income, to fall in the 7% tax slab. The amount hid by Nitin is 6/29 of the original taxable income. If Nitin paid Rs. 32,200 as tax, what is the original amount of tax he had to pay?Solution
Tax paid = 32200 (7% of the taxable income) Shown income = (32200 × 100)/7 = 460000 Amount hid = 6/29 of original income. Shown income = 23/29 × original taxable income Original Taxable income = (29/23) × 460000 = 580000 Tax = 12.5% × 580000 = Rs. 72500
In the question, assuming the given statements to be true, find which of the conclusion (s) among given three conclusions is /are definitely true and t...
Statement: M > K ≥ V ≥ G; Q < T < M
Conclusion:
I. T < G
II. Q < V
In the question, assuming the given statements to be true, find which of the conclusion (s) among given three conclusions is/are definitely true and th...
Statement: A ≥ B ≥ C = D > E, F > G = H ≤ CÂ
Conclusion: I. C ≥ F                         II. F > D
...Statements:
A < R ≤ M =S; U > L = T; A < L = O > E
Conclusions:
I). U > E
II). L > M
...In the question, assuming the given statements to be true, find which of the conclusion (s) among given two conclusions is /are definitely true and the...
Statements: R ≤ K ≤ H = O ≥ D > Q; K > P
Conclusions:I. O ≥ Q II. Q > P
Statements: C > E > Y > U ≤ O ≥ P = V
Conclusion
I: O > E
II: U > C
Statement: F ≥ G > I > E ≤ P, E = S ≥ PÂ
Conclusion: I. F ≥ P         II. G > P
Statements: D = E ≥ G = K, O > B ≤ C = K, E ≤ I < F
Conclusions: I.F > K II. I ≥ G
...
