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# If the personal income tax rate is lowered from

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Intern
Joined: 25 Jan 2013
Posts: 24

Kudos [?]: 68 [0], given: 11

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

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20 Feb 2013, 22:07
00:00

Difficulty:

15% (low)

Question Stats:

88% (01:08) correct 13% (01:44) wrong based on 32 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

Kudos [?]: 68 [0], given: 11

Director
Status: Done with formalities.. and back..
Joined: 15 Sep 2012
Posts: 635

Kudos [?]: 665 [1], given: 23

Location: India
Concentration: Strategy, General Management
Schools: Olin - Wash U - Class of 2015
WE: Information Technology (Computer Software)
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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Kudos [?]: 665 [1], given: 23

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