To Find the Tax Rate % when Worth and Tax Amount are given (WP-5 Property Tax)

Q. Property tax Rs. 18,720 was paid when the worth of property is Rs. 1,560,000. Find the percentage of property tax.

Given:

Property tax = Rs. 18,720 

Worth of the property = Rs. 1,560,000

To Find: 

Tax rate = ?  %  

Solution:

The General Formula for Property Tax is

To find the Tax Rate (%) from the above formula, the above equation will be written by using basic mathematics rules

By putting Values we will get

Tax Rate (%) = `\frac{Rs. 18720}{Rs. 1560000}` x 100 %

Tax Rate (%) = 1.2 %

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