Question

Chris's gross monthly earning is $3000. Calculate his net pay (take-home pay) by using the deductions below.

Federal Tax: 12%

State Tax: 3%

Local Tax: 1%

Social Security Tax: 6%

Medicare Tax: 6%


$3000
$2160
$840
$2200

Answer 1

$2160

Explanation:

federal tax = 12%of $3000

=12/100×3000

=12×30

=$360

state tax=3%of$3000

=3/100×3000

=3×30

=$90

local tax=1%of$3000

=1/100×3000

=1×30

=$30

social security tax=6%of$3000

=6/100×3000

=6×30=180

similarly, Medicare tax=180

add them all and subtract with monthly earning

$360+$90+$30+$180+$180=$840

$3000-$840=$2160

so total deduction is $2160

Answer 2

1) calculate 12% of 3000
3000=100%
x=12%
3000•12=100•x
x=360
2) calculate 3% of 3000
3000=100%
y=3%
3•3000=100y
y=90
3) calculate 1% of 3000
3000=100%
z=1%
3000•1=100z
z=30
4) calculate 6% of 3000
3000=100%
k=6%
3000•6=100k
k=180
5) now we need to add all this numbers to each other to see total money he has to spend in taxes (but we will take 180 twice because there where two 6%_s)
360+90+30+180+180=840
6) to calculate his take-home pay, we need to subtract 3000 by tax pay that we just calculated
3000-840=2160

FINALL ANAWER—his take home pay is $2160