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JAMB Mathematics 2006 Question 22

Question 22

Commercial Arithmetic

Find the tax on an income of N20,000 if no tax is paid on the first N10,000 and tax is paid at N50 in N1,000 on the next N5,000 and at N55 in N1,000 on the remainder.

  1. A.N500
  2. B.N552
  3. C.N255
  4. D.N525
Show the answer and explanation

Answer: D (N525)

Explanation

Next N5,000: 5 × N50 = N250. Remaining N5,000: 5 × N55 = N275. Total tax = N525.