SOLUTION: An employee pays an income tax of P12,210.00 on his gross income of P146,520.00. What is the rate of taxation on his gross income?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: An employee pays an income tax of P12,210.00 on his gross income of P146,520.00. What is the rate of taxation on his gross income?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 465563: An employee pays an income tax of P12,210.00 on his gross income of P146,520.00. What is the rate of taxation on his gross income?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

What is the rate of taxation on his gross income?

   (12,210/146,520)*100 = 8.33%