Neco 2020 Civic Education Question 20

Practice objective / multiple choice question 20 from the 2020 Neco Civic Education examination.

Neco 2020 Civic Education Objective / Multiple Choice Medium Difficulty
Question 20 NECO • 2020 • CIVIC_EDUCATION • objective

A citizen earns a monthly salary of ₦150,000. The personal income tax rates are: first ₦30,000 at 5%, next ₦70,000 at 10%, and the remainder at 15%. In addition, there is a 2% contribution to the National Social Investment Fund (NSIF) on the total salary. Calculate the total monthly deduction and the net salary after deductions.

Answer Options

A. Total deduction = ₦18,000; Net salary = ₦132,000
B. Total deduction = ₦16,000; Net salary = ₦134,000
Correct Answer C. Total deduction = ₦19,000; Net salary = ₦131,000
D. Total deduction = ₦34,000; Net salary = ₦116,000
Correct Answer
C
Correct Option:
Total deduction = ₦19,000; Net salary = ₦131,000

About This Question

This is Neco 2020 Civic Education Question 20. It is one of the objective questions from the 2020 Neco Civic Education examination.

Difficulty level: Medium .

View More Neco 2020 Civic Education Questions More Neco Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support