There is 24% increase in Income tax rate. It leads to 1% decrease in overall income. What is the rate of tax?

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C. Sivasankaran

  • May 15th, 2006
 

4%

24 % increase of income tax leads to 4.96%

Let without tax 100, then income for 4% tax is 96 and 4.96% is 95.04. So 1% decrease

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