A man 39 s annual income has increased by 5 lakhs but the tax on the income that he has to pay has b...........

Quantitative Aptitude (CGL) Percentage

A man's annual income has increased by 5 lakhs, but the tax on the income that he has to pay has been reduced from 12% to 10%. He now pays Rs. 10,000 more income tax. What is his increased income?

28.4 lakhs

27.2 lakhs

29.6 lakhs

22.5 lakhs

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Explanation:

Correct Answer: 22.5
Let his annual income =x
(X+500000)*10/100=X*12/100+10000
Or X=2000000
Therefore
His increased income =2500000
But he pays 10%tax .so
Total income =2500000–2500000*10%
=2250000