Mr. X pays 10% tax on all income over Tk. 60,000 but he does not pay any tax on interest on postal savings certificates. In 2000, he paid Tk. 7500 as tax and he earned Tk. 12,000 as interest on postal savings account. What was his net income in 2000?

Ashifur August 8, 2023 - 14:36

Problem: Mr. X pays 10% tax on all income over Tk. 60,000 but he does not pay any tax on interest on postal savings certificates. In 2000, he paid Tk. 7500 as tax and he earned Tk. 12,000 as interest on postal savings account. What was his net income in 2000?

View all: BANGLADESH BANK | OFFICER | QUESTION SOLVE(MATH) | 2001

Correct Answer: Tk. 1,47,000

Explanation:

At 10% tax

Given tax Tk. 10 when income = Tk. 100

Given tax Tk. 7,500 when income = Tk. $\frac{100×7500}{10}$

= Tk. 75,000

His net income in 2,000 was = Tk. (75,000 + 60,000 + 12,000) = Tk. 1,47,000

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