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# Compute Income Tax

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Author Message
Manager
Status: Time to apply!
Joined: 24 Aug 2011
Posts: 220
Location: India
Concentration: Finance, Entrepreneurship
GMAT 1: 600 Q48 V25
GMAT 2: 660 Q50 V29
GMAT 3: 690 Q49 V34
GPA: 3.2
WE: Engineering (Computer Software)
Followers: 4

Kudos [?]: 121 [0], given: 166

Compute Income Tax [#permalink]

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26 Sep 2011, 07:37
1
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Difficulty:

55% (hard)

Question Stats:

60% (02:11) correct 40% (01:43) wrong based on 45 sessions

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Before being simplified,the instructions for computing income tax in country R were to add 2 percent of one's income to the average ( arithmetic mean) of 100 units of country R's currency and 1 percent of one's annual income.Which of the following represents the simplified formula for computing the income tax, in country R's currency, for a person in that country whose annual income is I ?

a) 50 + I/200
b) 50 + 3I/100
c) 50 + I/40
d) 100 + I/50
e)100 + 3I/100

[Reveal] Spoiler: OA

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Kudos [?]: 1764 [0], given: 376

Re: Compute Income Tax [#permalink]

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26 Sep 2011, 09:05
Practicegmat wrote:
Before being simplified,the instructions for computing income tax in country R were to add 2 percent of one's income to the average ( arithmetic mean) of 100 units of country R's currency and 1 percent of one's annual income.Which of the following represents the simplified formula for computing the income tax, in country R's currency, for a person in that country whose annual income is I ?

a) 50 + I/200
b) 50 + 3I/100
c) 50 + I/40
d) 100 + I/50
e)100 + 3I/100

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Re: Compute Income Tax   [#permalink] 26 Sep 2011, 09:05
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# Compute Income Tax

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