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    Question

    There is an exemption in income tax up to the first Rs 2

    lakh and after that, the remaining amount is taxed at the rate of 20%. If a person paid an income tax of Rs 6320 in a year, then what was the monthly income of the person in that year?
    A 19,500 Correct Answer Incorrect Answer
    B 19,300 Correct Answer Incorrect Answer
    C 19,400 Correct Answer Incorrect Answer
    D 19,200 Correct Answer Incorrect Answer

    Solution

     let the taxable amount be x According to Qs – x ×20%=6320 x × 20/100=6320 x=31600 Total yearly income = 200,000+31600 => 231600 Rs Monthly income = 231600/12=19300 =19300


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