A man who earns N480 in a month has to pay 25k as tax on every naira. How much tax does he pay for the month
Show workings
The tax rate is 25k on every naira, which can be written as 0.025 in decimal form. To calculate the amount of tax paid, we need to multiply 0.025 by the total earnings for the month.
Tax paid = 0.025 * N480
Tax paid = N12
Therefore, the man pays N12 in tax for the month.