164k views
2 votes
One year, Kim pays 9260 income tax work out how much she earned that year

2 Answers

5 votes

Answer: About $55,000k

Explanation:

User Xdays
by
4.9k points
3 votes

Answer: Kim made roughly 46,300 that year.

Explanation:

We know that income tax = 9260

Step 1 is to find out which tax bracket Kim comes under.

The min. tax for those in the 20% bracket is 7,500. (20% * 37,500)

The min. salary for those in the 40% bracket is 45,000. (40% * 112,500)

As Kim pays 9260 in tax, we know that she falls under the 20% bracket. As such, we can conclude that :

20% * (Kim's Salary) = 9260

Kim's Salary = 9260/20%(or 0.2)

Kim's salary = 46,300

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