Question

A man pays an income tax Rs.840 paying 5 paisa per rupee. How much does he pay if rate is 8 paisa per rupee?​

Answer 1

Rs. 1344

Explanation:

Man pays 5 paise for 1 rupee

and there is 100 paise in 1 rupee

so number of rupee = 100 / 5 = Rs. 20

total amount of money borrowed = 20 × 840 = Rs. 16800

amount paid if rate of tax is 8 rupee per paise

= 16800 / (100 / 8)

= 16800 / 12.5

= Rs. 1344

Answer 2

Rs.1344

Explanation:

Rs is the currency sign for rupee.

100 paisa = 1 rupee

⇒ 1 paisa = 0.01 rupee

If the man pays tax of Rs.840 at a rate of 5 paisa per rupee, then:

`\begin{aligned}\implies \textsf{Total income} &=\frac{\textsf{Income tax}}{\textsf{Rate}} \\\\&=\sf (840)/(0.05)\\\\ &= \sf Rs.16800\end{aligned}`

If the rate of tax is increased to 8 paisa per rupee, then:

`\begin{aligned}\implies \textsf{Income tax}&=\sf Income * rate \\&=\sf 16800 * 0.08\\ &= \sf Rs.1344\end{aligned}`

Therefore, the man will pay Rs.1344 income tax if the rate is 8 paisa per rupee.