Tax Slab Questions – Must Practice Set for CAT, XAT & Other MBA Exams
Tax Slab Questions – Must Practice Set for CAT, XAT & Other MBA Exams
Amiya Kumar Percentage, Profit, Loss and Discount MCQs – CAT & XAT Level Practice
Compiled by Maths By Amiya. Click below to reveal answers and video walkthroughs.
Direction 1 to 4: Study the following data carefully and answer the following questions.
Note: Income − Tax = Net Income
| Slab | Income Slab | Tax % |
|---|---|---|
| 1 | 0 to 10,000 | 0% |
| 2 | 10,000 to 50,000 | 10% |
| 3 | 50,000 to 1,00,000 | 25% |
| 4 | More than 1,00,000 | 33.33% |
1) Find the total tax paid by a man whose income is ₹80,000.
🔽 Show Answer2) A man paid ₹23,500 as tax on his total income. Find his total income.
🔽 Show Answer3) If income of a man falls in 4th slab and he pays ₹15,000 tax only in 4th slab, find his net income.
🔽 Show Answer4) A man has net income ₹1,33,500. Find total income if tax paid in 4th slab is ₹25,000.
🔽 Show Answer5) When income of a man is increased by ₹10,000 then the rate reduces from 25% to 20%. While in both the situations 30% income is tax-free. Find his initial income if he had equal tax in both cases.
🔽 Show Answer6) A man who works in a shop gets commission in such a way that if he sells articles up to ₹10,000 he will get 5% commission, or if he sells more than ₹10,000 he gets 12% on the entire sale. Find the total sale of that man if he gets ₹4100 as commission.
🔽 Show Answer7) When income of a man is reduced by ₹10,000 then the rate increases from 16.66% to 20%. While in both the situations 25% income is tax-free. Find his tax-free income if he had equal tax in both cases.
🔽 Show Answer