alleryStart learning →Expected annual profit Rs 8 lakh, tax Rs 2 lakh. Q1 profit Rs 1.6 lakh. Q1 tax is:
ARs 40,000
BRs 50,000
CRs 32,000
DRs 60,000
Answer & Solution
Correct answer: A. Rs 40,000
The expected annual rate is 2,00,000 / 8,00,000 = 25 percent, and 25 percent of Rs 1,60,000 gives Rs 40,000.
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