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Fin is managing salary taxation and wants a program to determine the net salaries based on the provided salary amount. Determine the net salary: If the salary is less than 50000, print "No Tax." For salaries between 50000 (inclusive) and 100000 (exclusive), apply 10% tax and print the net salary after deduction.For 100000 or more, apply 20% tax and print the net salary after deduction.Implement a program that takes Fin's salary as input (integer) and calculates the net salary after converting it into float.Input format :The input consists of an integer value n, representing Fin's monthly salary.Output format :If no tax is applicable, the output prints "No Tax"If a tax is applicable, the output prints "Salary after X% Tax: Y" where X represents the applicable tax percent value and Y represents the net salary after deduction with two decimal places.Refer to the sample output for the formatting specifications.Code constraints :In this scenario, the test cases fall under the following constraints:1000 ≤ n ≤ 120000Sample test cases :Input 1 :40000Output 1 :No TaxInput 2 :60000Output 2 :Salary after 10% Tax: 54000.00Input 3 :120000Output 3 :Salary after 20% Tax: 960

Question

Fin is managing salary taxation and wants a program to determine the net salaries based on the provided salary amount. Determine the net salary: If the salary is less than 50000, print "No Tax." For salaries between 50000 (inclusive) and 100000 (exclusive), apply 10% tax and print the net salary after deduction.For 100000 or more, apply 20% tax and print the net salary after deduction.Implement a program that takes Fin's salary as input (integer) and calculates the net salary after converting it into float.Input format :The input consists of an integer value n, representing Fin's monthly salary.Output format :If no tax is applicable, the output prints "No Tax"If a tax is applicable, the output prints "Salary after X% Tax: Y" where X represents the applicable tax percent value and Y represents the net salary after deduction with two decimal places.Refer to the sample output for the formatting specifications.Code constraints :In this scenario, the test cases fall under the following constraints:1000 ≤ n ≤ 120000Sample test cases :Input 1 :40000Output 1 :No TaxInput 2 :60000Output 2 :Salary after 10% Tax: 54000.00Input 3 :120000Output 3 :Salary after 20% Tax: 960

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Solution

Here is a Python program that implements the given problem:

def calculate_net_salary(salary):
    if salary < 50000:
        return "No Tax"
    elif 50000 <= salary < 100000:
        tax = 10
        net_salary = salary - (salary * (tax / 100))
    else:
        tax = 20
        net_salary = salary - (salary * (tax / 100))
    return f"Salary after {tax}% Tax: {net_salary:.2f}"

# Test the function
print(calculate_net_salary(40000))  # Output: No Tax
print(calculate_net_salary(60000))  # Output: Salary after 10% Tax: 54000.00
print(calculate_net_salary(120000))  # Output: Salary after 20% Tax: 96000.00

This program defines a function calculate_net_salary that takes an integer salary as input. It checks the salary range and calculates the net salary after tax deduction accordingly. If the salary is less than 50000, it returns "No Tax". If the salary is between 50000 and 100000, it applies a 10% tax. If the salary is 100000 or more, it applies a 20% tax. The function returns the net salary after tax deduction in the format "Salary after X% Tax: Y", where X is the tax percentage and Y is the net salary. The net salary is formatted to two decimal places.

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