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22-09-2022
Mathematics

Answered

The rate of tax in India operates on a flat rate system. If you earn more than 50000 rupees then you pay a flat rate of tax of 20%. If you earn less than 50000 rupees then you pay a flat tax rate of 15%. You earn 3750 rupees in the first month, and for each month after that your salary increases by 3% of the previous month's salary. How much tax would you pay that year?

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