After paying 10% tax on all income over Tk 3000, Rahim had a net income of Tk 12,000. Rahims income before tax (in Tk) was ----

After paying 10% tax on all income over Tk 3000, Rahim had a net income of Tk 12,000. Rahim's income before tax (in Tk) was ----

Created: 1 year ago | Updated: 1 week ago | Created By:

Asif al sami

12,900

13,000

13,300

10,300

0 13

Institution: AGRANI BANK LTD Exam: Agrani bank Ltd - Senior Officer - 12.02.2010
Topic: Mathematics (সাধারণ গণিত) Subject: Mathematics (সাধারণ গণিত)

Best Answer Explained in Below-:

The Right Answer is b) 13,00here's why:

Rahim's net income of Tk 12,000 represents the amount he received after paying taxes.

We know the tax is applied only to the amount exceeding Tk 3,000. So, there must have been a base income of Tk 3,000 on which no tax was levied.

Let's denote the income exceeding Tk 3,000 (taxable income) as X.

The net income (Tk 12,000) can be expressed as the sum of the base income (Tk 3,000) and the remaining amount after tax on the taxable income (X).

Net income = Base income + (Taxable income - Tax amount)

12,000 = 3,000 + (X - 0.1X)

12,000 = 3,000 + 0.9X

Combining like terms:

12,000 - 3,000 = 0.9X

9,000 = 0.9X

To find the taxable income (X), we need to isolate X by dividing both sides by the tax factor (0.9).

X = 9,000 / 0.9

X = 10,000

Now, we can find the total income before tax (including the base income) by adding the taxable income (X) to the base income.

Total income = Taxable income + Base income

Total income = 10,000 + 3,000

Total income = 13,000

Therefore, Rahim's income before tax was Tk 13,000.

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