Xavier Aptitude Test 2015 Paper

Question : 62 of 113

Marks: +1, -0

The tax rates for various income slabs are given below.

Income s lab (Rs.)	Tax rate
≤ 500	Nil
> 500 to ≤ 2000	5%
> 2000 to ≤ 5000	10%
> 5000 to < 10000	15%

There are 15 person working in an organization. Out of them,3 to 5 persons are falling in each of the income slabsmentioned above. Which of the following is the correct taxrange of the 15 persons ? (E.g. If one is earning Rs.2000, thetax would be: 500 × 0 + 1500 × 0.05)

1350 to 7350, both excluded
1350 to 9800, both included
2175 to 7350, both excluded
2175 to 9800, both included
None of the above

Validate

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Income Slab	Tax rate	Persons for min. tax	Minimum tax per person
≤ 500	Nil	5	0
> 500 to ≤ 2000	5%	4	0 + (0+Δ) × 0.05
> 2000 to ≤ 5000	10%	3	0 + (2000 - 500) × 0.5 + (0+Δ) × 0.1
> 5000 to < 10000	15%	4	0 + (2000 - 500) × 0.5 + (5000+2000) × .1 + (0+Δ) × 0.15

Income Slab	Tax rate	Persons for max tax	Maximum tax per person
≤ 500	Nil	3	0
> 500 to ≤ 2000	5%	3	0 + (2000 - 500 - Δ) × 0.05
> 2000 to ≤ 5000	10%	4	0 + 1500 ×.05 + (5000 - 2000 - Δ) × .1
> 5000 to < 10000	15%	4	0 + (2000 - 500) × 0.5 + (5000+2000) × .1 + (10000 - 5000 - Δ) × 0.15