While Preparing a Comparative Statement of Profit and Loss, the following information was available. Calculate the rate of tax from this. Profit before Tax 31.3.2021 = ₹280000 Profit after Tax 31.3.2021 = ₹168000
Options:
20%
30%
40%
10%
Correct Answer:
40%
Explanation:
TAX= 280000-168000= ₹112000 Rate of tax= 112000/280000*100= 40%