A tax player is allowed 18 1 8 th of his income tax-free, and pays 20% on the remainder. If he pays ₦490.00 tax, what is his income?

Question 1 Report

A tax player is allowed $\frac{1}{8}$ th of his income tax-free, and pays 20% on the remainder. If he pays ₦490.00 tax, what is his income?

₦560.00

₦2,450.00

₦2,800.00

₦3,920.00

Answer Details

He pays tax on 1 - $\frac{7}{8}$ = $\frac{1}{7}$ th of his income
20% is 490, 100% is $\frac{1000}{20}$ x 490, ₦2,450.00
= $\frac{7}{8}$ of his income = ₦2,450.00

$\frac{1}{\frac{7}{8}}$ x 2450
= $\frac{8 \times 2450}{7}$
= $\frac{19600}{7}$
= ₦2800.00

View Answer

Download The App On Google Playstore

Everything you need to excel in JAMB, WAEC & NECO

Personalized AI Learning Chat Assistant

Thousands of JAMB, WAEC & NECO Past Questions

Over 1200 Lesson Notes

Offline Support - Learn Anytime, Anywhere

Green Bridge Timetable

Literature Summaries & Potential Questions

Track Your Performance & Progress

In-depth Explanations for Comprehensive Learning