Q. If a person's income increases from Rs. 10 lakhs per year to Rs. 11 lakhs per year and tax increases from Rs. 80,000 to Rs. 92,500 the marginal tax rate is
A) 8%
B) 12.50%
C) 15%
D) 10%
✔ Correct Answer: 12.50%
Exam Insight
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A) 8%
B) 12.50%
C) 15%
D) 10%
✔ Correct Answer: 12.50%
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