Find all School-related info fast with the new School-Specific MBA Forum

It is currently 22 Jul 2014, 06:28

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

If the personal income tax rate is lowered from

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
avatar
Joined: 25 Jan 2013
Posts: 24
Followers: 0

Kudos [?]: 1 [0], given: 11

If the personal income tax rate is lowered from [#permalink] New post 20 Feb 2013, 21:07
00:00
A
B
C
D
E

Difficulty:

  25% (low)

Question Stats:

81% (02:38) correct 19% (01:44) wrong based on 21 sessions
If the personal income tax rate is lowered from 40% to 33%, what is the differential savings for a tax payer having an annual income before tax to the tune of $45000?

A. $3500
B. $5000
C. $3150
D. $7000
E. $10000
[Reveal] Spoiler: OA
1 KUDOS received
Director
Director
User avatar
Status: Done with formalities.. and back..
Joined: 15 Sep 2012
Posts: 646
Location: India
Concentration: Strategy, General Management
Schools: Olin - Wash U - Class of 2015
WE: Information Technology (Computer Software)
Followers: 35

Kudos [?]: 348 [1] , given: 23

GMAT ToolKit User Premium Member
Re: If the personal income tax rate is lowered from [#permalink] New post 20 Feb 2013, 23:45
1
This post received
KUDOS
antoxavier wrote:
If the personal income tax rate is lowered from 40% to 33%, what is the differential savings for a tax payer having an annual income before tax to the tune of $45000?

A. $3500
B. $5000
C. $3150
D. $7000
E. $10000


Saving = (40-33)% of 45000 = 3150.
Ans C it is.
_________________

Lets Kudos!!! ;-)
Black Friday Debrief

Re: If the personal income tax rate is lowered from   [#permalink] 20 Feb 2013, 23:45
    Similar topics Author Replies Last post
Similar
Topics:
A major city uses income from tax revenues to fund shashankp27 0 21 Aug 2011, 12:02
Income Tax Onell 4 21 Mar 2011, 04:12
After paying a 10% tax on all income over USD3,000, a person puma 3 31 Aug 2008, 01:36
A person's total revenue is g. After t percent of income tax getzgetzu 2 06 May 2006, 00:01
Tom paid income tax at a rate of 6% of annual income in getzgetzu 1 05 May 2006, 21:48
Display posts from previous: Sort by

If the personal income tax rate is lowered from

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.