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A man's annual income has increased by Rs 5 lakhs but the tax on income that he has to pay has reduced from 12% to 10%. He now pays Rs 10,000 more income tax. What is his increased income (in Rs lakhs)?
- A20
- B25
- C15
- D10
Answer not set
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0
CCommunity
Let the income before increment = Rs. x so increased income = Rs. (x + 500000) lakhs
According to given condition;
0.1(x + 500000) – 0.12x = 10000
⇒ 0.02x = 40000
⇒ x = 2000000 = Rs. 20 lakhs
∴ Increased income = 20 + 5 = 25 lakhs
According to given condition;
0.1(x + 500000) – 0.12x = 10000
⇒ 0.02x = 40000
⇒ x = 2000000 = Rs. 20 lakhs
∴ Increased income = 20 + 5 = 25 lakhs
0
CCommunity
Let the income before increment = Rs. x so increased income = Rs. (x + 500000) lakhs
According to given condition;
0.1(x + 500000) – 0.12x = 10000
⇒ 0.02x = 40000
⇒ x = 2000000 = Rs. 20 lakhs
∴ Increased income = 20 + 5 = 25 lakhs
According to given condition;
0.1(x + 500000) – 0.12x = 10000
⇒ 0.02x = 40000
⇒ x = 2000000 = Rs. 20 lakhs
∴ Increased income = 20 + 5 = 25 lakhs