Sum

[hectic]

Could anyone tell me what the answer is please. A salary of �15,897 is to be increased by 4%. What will the new salary be per month with a tax allowance of �8,800 before being taxed and a tax rate of 10%?

Many Thanks

[Gnu]

Have you got a calculator handy?

Multiply 15 897 by 1.04 (this adds 4% on to the salary). Call this A.

Take 8 800 off A to get the amount to be taxed. Call this B.

Multiply B by 0.10 (this is the 10% tax rate, and the answer is the tax you will pay). Call this C.

Take C from A to get your annual salary after tax, then divide this by 12 to get your monthly salary.

I hope you don't need to pay National Insurance, as this would need another set of calculations.

[dzug]

Is this an exam question or for real? If it's for real then your 10% tax rate is wrong and the allowance figure is unlikely but not impossible.

If it's an exam then gnu has it right.

[hectic]

Its not an exam question it is my real wage, tax rate and tax allowance. I live on an island so a things are a lot better than the uk

[sense4all]

Dear Hectic, now I have a return question for you ......

Please can I move to your Island and qualify for the same type of benefits? ...(please do not say yes if its in the middle of the North Sea .... ) lol

[hectic]

Its the isle of man, you'd have to ask their government but i don't see a problem with it