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May 2nd, 2018, 10:04 AM  #1 
Senior Member Joined: Aug 2014 From: India Posts: 343 Thanks: 1  How is the value 13 is obtained?
Year 2015 Corporation tax  26% Income tax  29.6% Wealth tax  2.6% Customs duty  Excise duty  Service tax  14.8% In 2015, if the amount collected through excise duty was 11.7 crore, which was 50% of corporate tax, what was the amount collected through customs duty? (Ans: 12.6 crore) Note:1 crore mean 10 million. Solution: g = 11.7 f + g = 27% f = 27  13 = 14% 13% = 11.7 14% = ? 11.7 × 14/13 = 12.6 crore How is the value 13 is obtained? 
May 2nd, 2018, 10:36 AM  #2 
Math Team Joined: Dec 2013 From: Colombia Posts: 7,622 Thanks: 2610 Math Focus: Mainly analysis and algebra 
Well, 50% of corporate tax at 26% would do it.

May 2nd, 2018, 01:04 PM  #3 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,136 Thanks: 1003  
May 2nd, 2018, 02:00 PM  #4 
Global Moderator Joined: Dec 2006 Posts: 20,375 Thanks: 2010 
Why does f + g = 27%? This 27% figure seems to appear from nowhere.

May 2nd, 2018, 02:57 PM  #5  
Math Team Joined: Jan 2015 From: Alabama Posts: 3,264 Thanks: 902  Quote:
We were told that the corporate tax is 26% (of some amount) that "amount" would be 23.4/0.26= 90. The excise tax is 11.7 which is 13% of 90. The taxes so far are 26+ 29.6+ 2.6+ 13+ 14.8= 86%. That leaves 100 86= 14% for "customs duty". Quote:
 
May 2nd, 2018, 06:23 PM  #6 
Math Team Joined: Dec 2013 From: Colombia Posts: 7,622 Thanks: 2610 Math Focus: Mainly analysis and algebra  
May 2nd, 2018, 06:25 PM  #7 
Senior Member Joined: Aug 2014 From: India Posts: 343 Thanks: 1  
May 3rd, 2018, 08:37 AM  #8  
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,136 Thanks: 1003  Quote:
So you can right away complete the breakdown: Corporation tax  26% Income tax  29.6% Wealth tax  2.6% Customs duty  13.0% Excise duty  14.0% Service tax  14.8% Add them up  100.0% Is that simple enough?  
May 3rd, 2018, 09:15 AM  #9 
Global Moderator Joined: Dec 2006 Posts: 20,375 Thanks: 2010 
There's no reason why they should total 100%.

May 3rd, 2018, 09:26 AM  #10 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,136 Thanks: 1003 
Well, hmmm...to me, "year 2015" being the "header", the breakdown then represents ALL the 2015 items... BUT lazy me should have stated that...to protect me ass 

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