Question

the first 500naira of a man's income is tax free. if he pays tax on the rest at the rate of 10kobo on every naira,how much tax will he pay if he earns 2400naira as income?​

Answer 1

Tax on 2400 naira = 190 kobo

Explanation:

Given that:

The first 500 naira is tax free.

Amount earned = 2400 naira

Amount to be taxed = 2400 - 500 = 1900 naira

Payable tax = 10 kobo on every naira

1 naira = 10 kobo

1900 naira =
`(1900*10)/(100)`

1900 naira = 190 kobo

Hence,

Tax on 2400 naira = 190 kobo