Jane's monthly income in the year 2010 was $48,200, where 14% of her salary was withheld for income tax. In the year 2011, her monthly salary was $51,800, where 16% of her income was withheld for income tax. What was her average take home pay during the years 2010-2011?

Question

Mathematics

Ashly Brewer

27 September, 10:47

Jane's monthly income in the year 2010 was $48,200, where 14% of her salary was withheld for income tax. In the year 2011, her monthly salary was $51,800, where 16% of her income was withheld for income tax. What was her average take home pay during the years 2010-2011?

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Barrett · Answer 1

In 2010: Take home salary = (1-0.14) * (48200*12) = $497,424

In 2011: Take home salary = (1-0.16) * (51800*12) = $522,144

Average take home per month in 2010-11 = (497,424+522,144) / 24 = $42,482