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Problem

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13 Nov 2021

Given information

In a certain country, income tax is assessed as follows. There is no tax on income up to   . Any income over  is taxed at rate of % , up to an income of % . Any income over   is taxed at % .

Step-by-step explanation

Step 1.

We have to calculate tax on income of  .  

There is no tax if income .  

So non-taxable income is:  

Then taxable income is:    

Since the total income is in the interval .  

So the income tax: 10% of 4000 

   

Hence, tax on income of  

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