1. If tax is charged at 22% on the first Rs.5,50,000 and 35% on all income in excess of Rs.5,50,000, how much tax is charged on an income of Rs.8,00,000?
(1) Rs.2,00,000
(2) Rs.3,00,000
(3) Rs.2,80,000
(4) Rs.2,08,500
(1) 1
(2) 2
(3) 3
(4) 4
EXPLANATION
The taxation for an income of Rs. 8,00,000 involves a two-step calculation. Initially, a 22% tax is applied to the first Rs. 5,50,000, followed by a 35% tax on the surplus income beyond Rs. 5,50,000. The total tax amount is obtained by summing these two components.
Breaking it down further:
2. A man goes to Goa for a three-day stay. On the first day he doubles the money he has and spends Rs.160. On the second day he triples the money he has and spends Rs.130. On the third day he quadruples the money he has and spends Rs.200. If he is left with twice the money he had at the beginning of the first day, how much money did he have at the end of the first day?
(1) 54
(2) 75
(3) 82
(4) 80
(1) 1
(2) 2
(3) 3
(4) 4
EXPLANATION
If the man starts with Rs. x,
At the end of the first day he has (2x – 160)
At the end of second day he has
3 (2x – 160) – 130 = 6x – 610
At the end of day 3 he has,
4(6x – 610) – 200 = 24x – 2640
Given that
24x – 2640 = 2x
⇒ x = 120
The amount he has at the end of the first day is (2 × 120) – 160 = 80
Hence, the amount at the end of the first day is Rs. 80
Hence, option (D) is correct.
Leave a Reply