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Before being simplified, the instructions for computing income tax in country r were to add 2 percent of one’s annual income to the

Before being simplified, the instructions for computing income tax in Country R stated that one should add 2 percent of their annual income to the average (arithmetic mean) of 100 units of Country R's currency and 1 percent of their annual income. Which of the following represents the simplified formula for computing the income tax in Country R's currency for a person whose annual income is denoted as "i"?

a. 50 + i/200
b. 50 + 3i/100
c. 50 + i/40
d. 100 + i/50
e. 100 + 3i/100

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2 Answers

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Elnora Dicki

Feb 17, 2025

correct option is c. 50 + Explanation: we know that 2 percent of  annual income =  0.02 I   .....................1and 1 percent of  annual income =  0.01 I      ........................2and so we take average i.e arithmetic mean of 1 percent of  annual income and 100 units of country  currencyso average =       .......................3so tax is sum of equation 1 and 3 tax = 0.02 I + tax = 50 + so correct option is c. 50 +
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Arithmetic Income Tax Financial Calculations

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