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MATHEMATICS

JAMB 2006 - Question 22

Mathematics 2006 JAMB Past Questions - Question 22: Find the tax on an income of N20,000 if no tax is paid on the first N10,000 and tax is paid at N50 in N1,000 on the next N5,000 and at N55 in N1,000 on the remainder.

Choose the most appropriate option for the gap .

Find the tax on an income of N20,000 if no tax is paid on the first N10,000 and tax is paid at N50 in N1,000 on the next N5,000 and at N55 in N1,000 on the remainder.

A: N500

B: N552

C: N255

D: N525

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Correct Answer

Explanation

N20,000 - N10,000 = N10,0001st tax on N5000 at N50 per N1000= 5*50 = N2502nd tax on the remaining N5000 at N55 per N1000 = 5*55 = N275Total tax paid = N250 + N275= N525