

Question

(a) A man earns N150,000 per annum. He is allowed a tax free pay on N40,000. If he pays 25 kobo in the naira as tax on his taxable income, how much has he left?
(b) A bookshop has 650 copies of a book for sale. The books were marked at N75 per copy in order to make a profit of 30%. A bookseller bought 300 copies at 5% discount. If the remaining copies are sold at N75 each, calculate the percentage profit the bookshop would make on the whole.

