Question : Suhani pays tax at the rate of 30% on her entire income of INR 90,000 and Ritika pays tax at the rate of 40% on her entire income of INR y. If the overall tax rate on their combined income comes to 37%, then what is the value of y?
Option 1: INR 2,04,000
Option 2: INR 2,16,000
Option 3: INR 2,13,000
Option 4: INR 2,10,000
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Correct Answer: INR 2,10,000
Solution : Given: Suhani tax rate = 30% Suhani income = INR 90,000 Ritika tax rate = 40% According to the question: (30% of 90000) + (40% of y) = 37% of (90000 + y) ⇒ 3% of y = (33300 – 27000) ⇒ y = $\frac{(6300 × 100)}{3}$ ⇒ y = INR 2,10,000 Hence, the correct answer is INR 2,10,000.
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