calculate the net salary of a person earning $71,000 p.a. with a provincial flat tax of 11%.\nnet salary: $
calculate the net salary of a person earning $71,000 p.a. with a provincial flat tax of 11%.\nnet salary: $
Answer
Explanation:
Step1: Calculate the tax amount
The tax rate is 11% or 0.11. The tax amount is calculated by multiplying the annual salary by the tax - rate. So, the tax amount $T = 71000\times0.11$. $T=71000\times0.11 = 7810$
Step2: Calculate the net salary
The net salary $N$ is the annual salary minus the tax amount. So, $N = 71000 - T$. $N=71000 - 7810=63190$
Answer:
63190