Question

Tegan is checking her tax bill for the last year
the tax rates were as follows:
•no tax on the first £11000 of earnings
•earnings in excess of £11000 and up to £43000 taxed at a rate of 20%
•earnings in excess of £43000 and up to £150000 taxed at the rate of 40%
last year Tegan earned £48300 before tax
how much did she pay in total?

Answer 1

Multiplication is the process of multiplying. The total tax of Tegan's earnings will be £8,520(£6,400+£1,200).

What is multiplication?

Multiplication is the process of multiplying, therefore, adding a number to itself for the number of times stated. For example, 3 × 4 means 3 is added to itself 4 times, and vice versa for the other number.

Since there is no tax for the first £11,000, therefore, the earnings upto £11,000 will be tax-free.

The amount of tax for the income of £11,000 to £43,000, will be,

20% of (£11,000 to £43,000)

= 20% × (£43,000 - £11,000)

= £6,400

The amount of tax for the income of £11,000 to £150,000, will be,

40% of (£43,000 to £48,300)

= 40% × (£5,300)

= £2,120

Hence, the total tax of Tegan's earnings will be £8,520(£6,400+£1,200).

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