A man pays 5% this annual income as tax. If he paid Tk. 600 as tax last year, what was his annual income?
A
Tk. 10,000
B
Tk. 12,000
C
Tk. 15,000
D
Tk. 20,000
Correct Answer: Tk. 12,000
Let the annual income be X. Then, 5% of X = 600 or, 5/100 of X = 600 So, X = 600×100/5 = 12000 TK