a)Taxable income = (25000 + 12000 + 3000)= 40000
b) Income tax
10164 x 2/20 = Shs.1016.40
10164 x 3/20 = Shs.1524.60
10164 x 4/20 = Shs.2032.80
Remaining :
9508 x 5/20 = Shs.2377
Total tax payable p.m = 6950.8 – 1162 = Shs.5788.80
Kavungya answered the question on June 19, 2019 at 09:58
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A company employee earns a basic salary of Kshs.25,000 and is also given taxable allowances
amounting to Kshs.10,480.
Using the table of taxation above:-
(a) Calculate the employee’s...
(Solved)
A company employee earns a basic salary of Kshs.25,000 and is also given taxable allowances
amounting to Kshs.10,480.
Using the table of taxation above:-
(a) Calculate the employee’s taxable income
(b) If the employee is entitled to a personal tax relief of Kshs.800 per month, determine the net tax
(c) If the employee was given 40% increase in his income, calculate the percentage increase
in his income tax
Date posted:
June 19, 2019
.
Answers (1)
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A certain amount of money was invested at compound interest of 10% compounded
every two years for ten years. Given that the investor invested a total...
(Solved)
A certain amount of money was invested at compound interest of 10% compounded
every two years for ten years. Given that the investor invested a total of 500,000/= at the
end of the ten years, find the amount of money invested to the nearest shillings
Date posted:
June 19, 2019
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Answers (1)
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The cash price of a T.V set is Ksh. 26,000. Linda bought the set on hire purchase terms by
paying a deposit of Ksh. 6,000 and...
(Solved)
The cash price of a T.V set is Ksh. 26,000. Linda bought the set on hire purchase terms by
paying a deposit of Ksh. 6,000 and the balance by 24 equal monthly installments of
Khs. 1,045.30. Find the compound rate of interest per year.
Date posted:
June 19, 2019
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Answers (1)
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What would Kshs.15000 amount to after 3years at 16% per annum compounded quarterly?
(Solved)
What would Kshs.15000 amount to after 3years at 16% per annum compounded quarterly?
Date posted:
June 19, 2019
.
Answers (1)
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Income rates for income earned were charged as follows:
Income in Kshs. p.m Rate in Kshs. per sh.20
1- 8400 ...
(Solved)
Income rates for income earned were charged as follows:
Income in Kshs. p.m Rate in Kshs. per sh.20
1- 8400 2
8401- 18,000 3
18,001- 30,000 4
30,000 - 36,000 5
36,001 - 48,000 6
48,001 and above 7
A civil servant earns a monthly salary of Ksh.19,200. His house allowance is Ksh12,000 per
month. Other allowces per month are transport Ksh.1300 and medical allowance Ksh.2300.
He is entitled to a family relief of Kshs. 1240 per month.
Determine:
a) (i) His taxable income per month.
(ii) Net tax. b) In addition, the following deductions were made
NHIF shs. 230
Service charge Kshs. 100
Loan repayment Kshs. 4000
Co-operative shares of Kshs. 1200.
Calculate his net salary per month.
Date posted:
June 19, 2019
.
Answers (1)
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Use the taxation rates in the table below to answer the questions that follow;-
The manager of a certain company is entitled to a monthly personal...
(Solved)
Use the taxation rates in the table below to answer the questions that follow;-
The manager of a certain company is entitled to a monthly personal relief of shs.3000
and her tax (PAYE) is kshs.9000 per month she is also deducted NHIF shs.350 per month,
WCPS shs.800 per month and cooperative shares shs.1200 per month, calculate
(a) The managers total deductions per month
(b) Total tax per month
(c) The manager’s annual gross salary
(d) The manager’s monthly basic salary if her monthly allowance and medical allowances
are 10000 and 2000 shillings
Date posted:
June 19, 2019
.
Answers (1)
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The table below shows the income tax for a certain year;
In that year, Odero paid a net tax of Kshs.5,512 per month. His total monthly...
(Solved)
The table below shows the income tax for a certain year;
In that year, Odero paid a net tax of Kshs.5,512 per month. His total monthly taxable allowances
amounted to Kshs.15,220 and he was entitled to a monthly personal relief of kshs.1,162.
Every month the following deductions were made;
N.H.I.F Kshs.320
Union dues Kshs.200
Co-operative shares Kshs.7,500
(a) Calculate Odero’s monthly basic salary in Kshs
(b) Calculate his monthly salary
Date posted:
June 19, 2019
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Answers (1)
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(a) A car is worth shs.800,000 when new. During the first year it depreciates by 20%
of its value and in the second it deprecates by...
(Solved)
(a) A car is worth shs.800,000 when new. During the first year it depreciates by 20%
of its value and in the second it deprecates by 5% of its value at the start of the year.
During the third, fourth and fifth year, depreciation rate is 10%. How much less will
it cost at the end of the fifth year?
(b) Find by how much the compound interest will exceed simple interest on shs.3,000
for two years at 15% per year
Date posted:
June 19, 2019
.
Answers (1)
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The table below shows the income tax rates:
Income per month (K£) Rate in Kshs per £
1 - 325 ...
(Solved)
The table below shows the income tax rates:
Income per month (K£) Rate in Kshs per £
1 - 325 2
326 – 975 3
976 - 1300 5
1301 – 1625 6
Over 1625 7.50
Mr. Misoi is a public servant who lives in a government house and pays a nominal rent of Kshs.1,220 per month. He earns a basic salary of Kshs. 24,800 and a house allowance of Kshs.12,000 per month. He is entitled to a monthly relief of kshs.1620.
(a) Calculate his monthly;
(i) Taxable income in K£
(ii) Tax payable without relief
(iii) Tax after relief
(b) Apart from the income tax. The following monthly deductions are made from his earnings
-HELB loan repayment Kshs.2400
- Health insurance fund Kshs.1200
- 2% of Basic salary union fee
Calculate:- (i) the total monthly deduction made on Mr. Misoi’s income
(ii) Mr. Misoi’s net income per month
Date posted:
June 19, 2019
.
Answers (1)
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Joseph bought a camera on hire purchase (H.P) term by paying a deposit of shs.7200
and cleared the balance in 24 equal monthly installments each of...
(Solved)
Joseph bought a camera on hire purchase (H.P) term by paying a deposit of shs.7200
and cleared the balance in 24 equal monthly installments each of 1250.
(a) find the hire purchase price of the camera
(b) the hire purchase price of the camera is 24% higher than the cash price. Find the
cash price of the camera
(c) Kangara took a loan from a financial institution and bought the camera with cash.
He repaid the loan at 18% p.a compound interest at the end of the two years. Find
the total interest paid by Kangara.
Date posted:
June 19, 2019
.
Answers (1)
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Income tax for all the income earned was charged at the rates shown.
(a) Wanyonyi earned a salary of Kshs.10,500 per month. In addition he was...
(Solved)
Income tax for all the income earned was charged at the rates shown.
(a) Wanyonyi earned a salary of Kshs.10,500 per month. In addition he was given a house
allowance of Kshs. 6500 per month. He got tax relief of Kshs. 300 per month.
Find ; (i) His taxable income p.a (ii) Income tax he pays per month.
(b) A part from income tax the following deductions are made per month. NHIF of Kshs.320,
widow and pension scheme of 2% of his gross salary. Calculate his net monthly pay.
Date posted:
June 19, 2019
.
Answers (1)
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The table below shows the rate at which income tax is charged for all taxable income.
...
(Solved)
The table below shows the rate at which income tax is charged for all taxable income.
INCOME RATE IN EXCH TWENTY SHILLINGS
On the first shs.116 160 10%
On the next shs.109 440 15%
On the next shs.109 440 20%
On the next shs.109 440 25%
On all income over shs.444 480 30%
Mr. Nyongesa earns a basic salary of sh.54, 450 per month. He is housed by the company and therefore 15% of his monthly salary is added to the basic salary as a taxable income. He is also given taxable medical and transport allowances of shs.4,000 and shs.2,000 per month respectively. He is entitled to a family relief of sh.1, 100 per month.
(a) Calculate Nyongesa’s annual taxable income
(b) Calculate his monthly P.A.Y.E after the relief
(c) If 20% of his basic salary goes towards deductions, determine his monthly income.
Date posted:
June 19, 2019
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Answers (1)
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ABCD is a parallelogram with vertices A (1,1) and C(8,10). AB has the equation
4x -5y = -1 and BC has the equation 5x – 2y...
(Solved)
ABCD is a parallelogram with vertices A (1,1) and C(8,10). AB has the equation
4x -5y = -1 and BC has the equation 5x – 2y = 20. Determine by calculation;
(a) the co-ordinates of the point M where the diagonals meet
(b) The co-ordinates of the vertices B and D
(c) the length of AB correct to 4 significant figures
Date posted:
June 19, 2019
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Answers (1)
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OABC is a trapezium such that the coordinates of O, A , B and C are (0, 0), (2, -1), (4, 3)
and (0, y)
(a) Find...
(Solved)
OABC is a trapezium such that the coordinates of O, A , B and C are (0, 0), (2, -1), (4, 3)
and (0, y)
(a) Find the value of y
(b) M is the mid-point of AB and N is the mid-point of OM. Find in column form
(i) the vector AN
(ii) the vector NC
(iii) Vector AC
(c) Hence show that A, N and C are collinear
Date posted:
June 19, 2019
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Answers (1)
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In the figure below (not drawn to scale), PQRS is a rectangle and P and Q are the points
(3, 2) and (1,4) respectively
Given that the...
(Solved)
In the figure below (not drawn to scale), PQRS is a rectangle and P and Q are the points
(3, 2) and (1,4) respectively
Given that the equation of the line PQ is y =3x -7, find:
(a) The equation of line QR
(b) The coordinates of point R
(c) The coordinates of point S
Date posted:
June 19, 2019
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Answers (1)
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Find the equation of a line which passes through the point (2, 3) and is perpendicular to
y – 3x+ 1 = 0, giving your answer...
(Solved)
Find the equation of a line which passes through the point (2, 3) and is perpendicular to
y – 3x+ 1 = 0, giving your answer in the form y = mx + c
Date posted:
June 19, 2019
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Answers (1)
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Find the angle ? in degrees from the figure below
(Solved)
Find the angle θ in degrees from the figure below
Date posted:
June 19, 2019
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Answers (1)
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In certain day the bank rates for changing dollars to shillings are given below.
Buying selling
Dollar 78.43 ...
(Solved)
In certain day the bank rates for changing dollars to shillings are given below.
Buying selling
Dollar 78.43 79.25
An American tourist changed US dollar 1500 to shillings, but then had to return to U. S. A
immediately and changed all the shillings back to dollars using the same rates. How much
did he lose?
Date posted:
June 19, 2019
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Answers (1)
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Factorise the expression
(Solved)
Factorise the expression
Date posted:
June 19, 2019
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Answers (1)
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When shop keeper sells articles at sh. 240.50 each he makes a profit of 25% on the cost
price. During a sale he reduces the price...
(Solved)
When shop keeper sells articles at sh. 240.50 each he makes a profit of 25% on the cost
price. During a sale he reduces the price of each article by sh. 22.90. Calculate the
percentage profit on an article sold at the sale price.
Date posted:
June 19, 2019
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Answers (1)