Answer to Question #236491 in Financial Math for Pjay

Question

After paying income taxes of 31% Andrew’s annual take-home income was 46.920. Calculate her income before taxes(gross income).

Answer 1

Let the income initial income be X

The tax paid will be $=\frac{31}{100}×X=0.31X$

So

$X-0.31X=46920\\0.99X=46920\\X=68000$

Income before tax is 68000