Question
Download Solution PDFCalculate personal income (in Rs. crore) from the given data.
| Particulars | Rs. (in crore) |
| Private income | 1800 |
| Net retained earnings of private enterprises | 500 |
| Corporation tax | 250 |
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 1050Key Points
- Calculating Personal Income
- Private Income:
- This is the total income earned by individuals and businesses within a country, excluding government income.
- Net Retained Earnings:
- These are the profits that a company keeps after paying dividends to shareholders.
- Corporation Tax:
- This is a tax levied on the profits of corporations.
- Private Income:
- Formula Used :
- Personal Income = Private Income - Net Retained Earnings - Corporation Tax
- Given Data:
- Private Income = Rs. 1800 crore
- Net Retained Earnings = Rs. 500 crore
- Corporation Tax = Rs. 250 crore
- Personal Income = 1800 crore - 500 crore - 250 crore = 1050 crore
- Therefore, the personal income is Rs. 1050 crore.
Last updated on May 28, 2025
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