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Mrs sood deposited Rs 17000 in a bank at the rate of 12% per annum if 30% is deduced as income tax on interest find the net annual income |
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Answer» SI = P*R*T/100 = 17000*12*1/100 = 170*12 = 2040 Income tax is 30% on interest Then annual income = (70/100)*2040= 7*204 = Rs 1428 |
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