To Find the Tax Rate % when Worth and Tax Amount are given (WP-3 Property Tax)

Find the property tax on a property worth Rs.948,000 at the rate of 1.5%.

Given:

Worth of the property = Rs.948,000
Tax rate = 1.5%

To Find:

Property tax (Tax Amount) = ?

Solution:

The Formula for Property Tax is 

Property tax (Tax Amount) = 1.5% of Rs. 948,000

Property tax (Tax Amount) =`{\frac1.5{100}}` x Rs. 948,000

Property tax (Tax Amount) = Rs.14,220

Thus, an amount of Rs.49,600 property tax will be paid by the buyer on a property of Rs.948,000 at a rate of 1.5 %.

************************

Jobs & Exams Mathematics Online

***************************************************************

Shortcut links for:

1. Real Life Word Problems on Financial Mathematics, Property Tax, General Sale Tax (GST), Zakat, Ushr, Profit and Loss, Markup, Percentage, Proportion.

2. 5th class Notes: English, Social Study (S.St.), General Science (G.Sc.), Urdu (اُردو), Islamiat (اسلامیات), Mathematics

3. 6th class Notes: Mathematics (National Book Foundation):

************************************

1. Website for School and College Level Physics   

(https://askrarequiz.blogspot.com)

2. Website for School and College Level Mathematics  

(https://askraremaths.blogspot.com)

3. Website for Single National Curriculum Pakistan - All Subjects Notes 

(https://askrareclassnotes.blogspot.com/)

© 2022-23  Academic Skills and Knowledge (ASK)     

Note:  Write me in the comments box below for any query and also Share this information with your class-fellows and friends.