Question

Tegan is checking her tax bill for the last year.
the tax rates were as follows:
•No tax on the first of £11,000 earnings
•earnings in excess of £11,000 and up to £43,000 taxed at a rate of 20%
•earnings in excess of £43,000 and up to £150,000 taxed at a rate of 40%
last year Tegan earned £48300 before tax
how much tax did she pay in total. please help give you brainiest.

Answer 1

A percentage is a way to describe a part of a whole. The total tax of Tegan's earnings will be £8,520(£6,400+£1,200).

What are Percentages?

A percentage is a way to describe a part of a whole. such as the fraction ¼ can be described as 0.25 which is equal to 25%.

To convert a fraction to a percentage, convert the fraction to decimal form and then multiply by 100 with the '%' symbol.

Since there is no tax for the first £11,000, therefore, the earnings which will be taxed,

£48,300 - £11,000 = £37,300

The amount of tax for the income of £11,000 to £43,000, will be,

20% of (£11,000 to £43,000)

= 20% × (£43,000 - £11,000)

= £6,400

The amount of tax for the income of £11,000 to £150,000, will be,

40% of (£43,000 to £48,300)

= 40% × (£5,300)

= £2,120

Hence, the total tax of Tegan's earnings will be £8,520(£6,400+£1,200).

Learn more about Percentages:

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