Question

Viven earns $42 000 per year and she gets a tax free allowance of $6000.If she pays 20%tax on the next $30 000 and 40%on the rest,how much tax does she pay in total?​

Answer 1

Ответ:

42000 +30000+6000+20+40=78060

Answer 2

To calculate the total tax Viven pays, we'll break down her income into different portions based on the tax rates and calculate the tax for each portion.

1. Tax-free allowance: Viven receives a tax-free allowance of $6,000, so this portion of her income is not subject to tax.

2. Next $30,000 taxed at 20%: Viven's taxable income after the tax-free allowance is $42,000 - $6,000 = $36,000. She pays 20% tax on the next $30,000, which amounts to $30,000 * 0.20 = $6,000 in tax.

3. Remaining income taxed at 40%: Viven has $36,000 - $30,000 = $6,000 of taxable income remaining. She pays 40% tax on this amount, which comes to $6,000 * 0.40 = $2,400 in tax.

Now, let's calculate the total tax Viven pays by adding up the taxes from each portion:

Total tax = Tax on the next $30,000 + Tax on the remaining $6,000 = $6,000 + $2,400 = $8,400

Therefore, Viven pays a total of $8,400 in taxes.