Question:
Mr. X's salary is increased by 20\(\%\). On the increase, the tax rate is 10\(\%\) higher. The percentage increase in tax liability is
Mr. X's salary is increased by 20\(\%\). On the increase, the tax rate is 10\(\%\) higher. The percentage increase in tax liability is
Updated On: Sep 25, 2024
- 20
- 22
- 23
- Indeterminate
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The Correct Option is D
Solution and Explanation
The correct option is (D): Indeterminate
Explanation: Since we don't know the tax on the initial salary, we cannot calculate the increase in tax liability. Thus, the answer is D.
Explanation: Since we don't know the tax on the initial salary, we cannot calculate the increase in tax liability. Thus, the answer is D.
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