Earning Money

IMPORTANT

Earning Money: Overview

This topic covers concepts, such as, Rate of Increase and Decrease in the Price of Goods, Earnings, Computation of Income Tax & Tax Threshold etc.

Important Questions on Earning Money

EASY
IMPORTANT

The following is (are) included in salary survey.

MEDIUM
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Lakshmi sold 25 balloons. Each balloon cost  10. How much money does she earn for all balloons?

MEDIUM
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Maria sold 20 chocolates. Each chocolate cost  15. How much money does she earn for all chocolates?

MEDIUM
IMPORTANT

Brad earns  125 per hour. He works 8 hours a day. How much does he earn each day ?

EASY
IMPORTANT

Which of following is an expense that can be subtracted from taxable income to reduce the amount owed.

EASY
IMPORTANT

Which of following is an expense that can be subtracted from taxable income to reduce the amount owed.

EASY
IMPORTANT

A _____ is an expense that can be subtracted from taxable income to reduce the amount owed.

EASY
IMPORTANT

A _____ is an expense that can be subtracted from taxable income to reduce the amount owed.

EASY
IMPORTANT

The rate of tax for income tax slab between the income of Rs. 1250001-Rs. 1500000 for Assessment year 2020-21 is 25%.

EASY
IMPORTANT

Mr. Manish's gross annual income is Rs. 972000 for the financial year 2013-14.

His annual savings this year are as follows:

Life insurance corporation premium Rs. 55000

Contribution towards provident fund Rs. 17000

Public provident fund Rs. 28000

National Savings Certificate Rs. 12000

Find his taxable income in Rs.

EASY
IMPORTANT

Tax threshold is the level of income above which you start to pay _____

EASY
IMPORTANT

Tax threshold is the level of income above which you start to pay _____

EASY
IMPORTANT

The income tax threshold is the income level at which a person _____ paying income taxes

EASY
IMPORTANT

The income tax threshold is the income level at which a person _____ paying income taxes

MEDIUM
IMPORTANT

Company ABC Inc. had revenue from the sale of $ 100000 for the year 2017. It paid $ 20000 as employee wages, $ 50000 for raw materials and goods, $ 5000 for other office and factory maintenance expenses. The Company had interest income of $ 3000 and paid $ 2500 in taxes. What is the net income of the Company ABC Inc.?

EASY
IMPORTANT

If the total revenue of the organisation is $ 250000 and total expense is $ 150000, then the net income of organisation is ________.

MEDIUM
IMPORTANT

Company ABC Inc. had revenue from the sale of $ 100000 for the year 2017. It paid $ 20000 as employee wages, $ 50000 for raw materials and goods, $ 5000 for other office and factory maintenance expenses. The Company had interest income of $ 3000 and paid $ 2500 in taxes. What is the net income of the Company ABC Inc.?

EASY
IMPORTANT

If price of a product is 4000 rupees after 5 years and its original price is 2500, find the rate of increase of price.

EASY
IMPORTANT

If price of a product is 3600 rupees after 4 years and its original price is 2500, find the rate of increase of price.

EASY
IMPORTANT

John's hourly rate of pay is $14.50. He is paid 'time-and-a-half' for work after hours and on Saturdays and 'double-time' for Sundays and public holidays.

One week he worked 4.5 hours on Saturdays and 6 hours on Sunday. How much overtime pay would  he earn?