Calculate income tax for the given income by adhering to the below rules
| Taxable Income |
Rate (in %) |
| First $10,000 |
0 |
| Next $10,000 |
10 |
| The remaining |
20 |
Expected Output:
For example, suppose the taxable income is 45000 the income tax payable is
10000*0% + 10000*10% + 25000*20% = $6000.
Solution:
need an explanation for this answer? contact us directly to get an explanation for this answer