Income tax increased by `17%` so net income decreased by `8%`. The rate of income tax is ?

Options

A. `32%`
B. `33%`
C. `35%`
D. `38%`

Answer

To solve the problem step by step, we will derive the rate of income tax based on the given information about the increase in income tax and the decrease in net income.

### Step 1: Understand the relationship between income tax, net income, and gross income.
The formula for net income (NI) is:
\[ \text{Net Income} = \text{Gross Income} - \text{Income Tax} \]