alleryStart learning →Tax at 60%, surcharge 25% of tax, cess 4% on both: what is the effective rate?
A75 percent
B78 percent
C84 percent
D90 percent
Answer & Solution
Correct answer: B. 78 percent
Tax of 60 plus surcharge of 15 gives 75, and 4 percent cess adds 3, so the effective rate is 78 percent of the income.
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