Jambmaths question:
Find the tax on th income of N20,000. IF no tax is paid on the first N10,000 and tax is paid N50 in N1000 on the next N5000 and at N55 in N1000 on the remainder.
Option A:
N525
Option B:
N552
Option C:
N255
Option D:
N500
Jamb Maths Solution:
First N10,000, no tax is paid
Next N5000
Tax paid N50 × 5 =N250
Next N5000
Tax paid N55 × 5 =N275
Total tax paid =N250 + N275 = N525
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