My Math Forum How is the value 13 is obtained?

 Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion

 May 2nd, 2018, 10:04 AM #1 Senior Member   Joined: Aug 2014 From: India Posts: 365 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: 7,664 Thanks: 2644 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

Posts: 14,597
Thanks: 1038

Quote:
 Originally Posted by v8archie Well, 50% of corporate tax at 26% would do it.
ARCHIE! That should be "corporation tax"!

 May 2nd, 2018, 02:00 PM #4 Global Moderator   Joined: Dec 2006 Posts: 20,757 Thanks: 2138 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:
 Originally Posted by Ganesh Ujwal 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%
This makes no sense! In the first place you haven't said what "f" is. More importantly because g is not a percent and it makes to sense to say that g added to anything is a percent. If the excise tax was 11.7 crore and that was 50% (1/2) of the corporate tax, the corporate tax is 2(11.7)= 23.4 crore.
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:
 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, 06:23 PM   #6
Math Team

Joined: Dec 2013
From: Colombia

Posts: 7,664
Thanks: 2644

Math Focus: Mainly analysis and algebra
Quote:
 Originally Posted by Denis ARCHIE! That should be "corporation tax"!
Bite me!

May 2nd, 2018, 06:25 PM   #7
Senior Member

Joined: Aug 2014
From: India

Posts: 365
Thanks: 1

Quote:
 Originally Posted by skipjack Why does f + g = 27%?
Customs duty(f) + Excise Duty(g) = 27%

100 - (corporation tax+ income tax + wealth tax + service tax) = 100 - 73 = 27.

May 3rd, 2018, 08:37 AM   #8
Math Team

Joined: Oct 2011

Posts: 14,597
Thanks: 1038

Quote:
 Originally Posted by Ganesh Ujwal 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.
You're TOLD excise duty is 13% (half of 26%).
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%

Is that simple enough?

 May 3rd, 2018, 09:15 AM #9 Global Moderator   Joined: Dec 2006 Posts: 20,757 Thanks: 2138 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: 14,597 Thanks: 1038 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 Thanks from Ganesh Ujwal

 Tags obtained

 Thread Tools Display Modes Linear Mode

 Similar Threads Thread Thread Starter Forum Replies Last Post Ganesh Ujwal Trigonometry 4 April 29th, 2018 05:08 AM Ganesh Ujwal Elementary Math 1 April 19th, 2018 01:09 AM pjlloyd100 Calculus 1 January 30th, 2013 09:01 PM mathLover Algebra 4 April 17th, 2012 02:02 AM

 Contact - Home - Forums - Cryptocurrency Forum - Top