Class work

Question

A man's wage in increased from naria 6250 to naria 7125 per month
(a). Find the increase percent
(b). If the wage are taxed at 12% find the increase in tax payable

Answer 1

(a) To find the increase percent, we can use the formula:

Increase percent = (Increase in wage / Original wage) * 100%

The increase in wage is naria 7125 - naria 6250 = naria 875.
The original wage is naria 6250.

So, the increase percent = (875 / 6250) * 100% ≈ 14%.

Therefore, the increase percent is approximately 14%.

(b) To find the increase in tax payable, we need to calculate the tax for the original wage and the new wage and then find the difference.

For the original wage:
Tax payable = 12% of naria 6250 = (12/100) * 6250 = naria 750.

For the new wage:
Tax payable = 12% of naria 7125 = (12/100) * 7125 = naria 855.

The increase in tax payable = New tax payable - Original tax payable = naria 855 - naria 750 = naria 105.

Therefore, the increase in tax payable is naria 105.