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If the personal income tax rate is lowered from

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Intern
Joined: 25 Jan 2013
Posts: 24
Followers: 0

Kudos [?]: 46 [0], given: 11

If the personal income tax rate is lowered from [#permalink]

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20 Feb 2013, 22:07
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Difficulty:

25% (medium)

Question Stats:

86% (02:09) correct 14% (01:44) wrong based on 29 sessions

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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
Director
Status: Done with formalities.. and back..
Joined: 15 Sep 2012
Posts: 641
Location: India
Concentration: Strategy, General Management
Schools: Olin - Wash U - Class of 2015
WE: Information Technology (Computer Software)
Followers: 49

Kudos [?]: 589 [1] , given: 23

Re: If the personal income tax rate is lowered from [#permalink]

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21 Feb 2013, 00:45
1
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.
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Re: If the personal income tax rate is lowered from   [#permalink] 21 Feb 2013, 00:45
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