Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Discover the answers you need from a community of experts ready to help you with their knowledge and experience in various fields. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

A bank makes a profit of 20 million euro. The bank pays 500 thousand euro in tax. What percentage of the profit is paid in tax?

Sagot :

samuelonum1

Answer:

2.5%

Step-by-step explanation:

Given data

Profit = Euro 20,000,000

Tax paid= Euro 500,000

The percentage tax paid is

% Tax= Tax paid/Profit*100

% Tax= 500,000/20,000,000*100

% Tax=0.025*100

% Tax=2.5

Hence the percentage tax paid is 2.5%

Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.