Post Utme Veritas University 2018 Economics Question 8

Practice objective / multiple choice question 8 from the 2018 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2018 Economics Objective / Multiple Choice
Question 8 POST_UTME_VERITAS_UNIVERSITY • 2018 • ECONOMICS • objective

The government of Nigeria has introduced a new tax policy to increase revenue. The policy involves impo\sing a tax rate of 20% on all income above ₦500,000. If a person earns an annual income of ₦750,000, calculate the amount of tax payable.

Answer Options

A. ₦10,000
Correct Answer B. ₦20,000
C. ₦30,000
D. ₦40,000
Correct Answer
B
Correct Option:
₦20,000

About This Question

This is Post Utme Veritas University 2018 Economics Question 8. It is one of the objective questions from the 2018 Post Utme Veritas University Economics examination.

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