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1. Your income for a year is Tk. 26,000 . You receive a raise so that next year's income will be Tk. 29,000. How much more will you pay in taxes next year if the tax rate remains the same ?
- A. Tk. 75
- B. Tk. 75
- C. Tk. 75
- D. Tk. 75
Answer: Option D
Explanation:
The difference in taxes is:
[1,070 + 0.07(29,000 - 25,000)] - [1,070 + 0.07(26,000 - 25,000)]
0.07(4,000) - 0.07(1,000)
0.07(3,000) = 210.
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