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Question 71
Ms. Gupta bought a house for ₹C in 2010. Three years later she sold the house for 25% more than she paid for it. She has to pay a tax of 50% on the gain. (The gain is the selling price minus the cost.) How much tax must Ms. Gupta pay?
Solution
Cost price of house = Rs. $$C$$
Profit on house = $$\frac{25}{100}\times C=Rs.$$ $$\frac{C}{4}$$
Tax paid = $$\frac{50}{100}\times\frac{C}{4}=Rs.$$ $$\frac{C}{8}$$
=> Ans - (C)
