Tag: gst (goods and service tax)

Questions Related to gst (goods and service tax)

A shopkeeper purchases an article for Rs 6200 and sells it to customer for Rs 8500. If sales tax is 8% , find the VAT paid by shopkeeper.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. $185$

  2. $184$

  3. $187$

  4. $190$

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Correct Option: B
Explanation:

$\Rightarrow$  Purchase price for Shopkeeper $= Rs.\ 6,200$

$\Rightarrow$  Sale price for shopkeeper $= Rs.\ 8,500$
$\Rightarrow$  Tax paid by the shopkeeper $= 8\%$ of $6,200 = \dfrac{8}{100}\times 6,200=Rs.\ 496$
$\Rightarrow$  Tax charged by the shopkeeper $= 8\%$ of $8,500 = \dfrac{8}{100}\times 8,500=Rs.\ 680$
$\Rightarrow$  Then VAT paid by the shopkeeper = $Rs.680-Rs.496=Rs.184$

Tanya buys a leather coat costing Rs. 3,600, the rate of Sales Tax being 10%. She asks the shopkeeper to reduce the price of the coat to such an extent that she does not have to pay anything more than Rs. 3,366 including Sales Tax. Calculate:
(i) the reduction needed in the cost price of the coat,
(ii) the reduction as percent.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. (i) Rs. 320      (ii) 12%

  2. (i) Rs. 840      (ii) 15%

  3. (i) Rs. 540      (ii) 15%

  4. (i) Rs. 520      (ii) 12%

Show answer
Correct Option: C
Explanation:
Let the cost price for the Tarun be rs.x
$\therefore x+10\% $ of $x=3366$

$\Rightarrow x+\dfrac{10x}{100}=3366$

$\Rightarrow \dfrac{110x}{100}=3366$

$\Rightarrow x=\dfrac{33660}{11}=Rs.3060$

(i)The reduction needed in the cost price of the coat
$\Rightarrow 3600-3060=Rs.540$

(II)Reduction Percentage$=\dfrac{540}{3600}\times 100=15$%

The marked price of two articles $A$ and $B$ together is Rs. 6000. The sales tax on article $A$ is 8% and that on article $B$ is 10%. If on selling both the articles, the total sales tax collected is Rs. 552, find the marked price of each of the articles $A$ and $B$.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. $A =$ Rs. $2,600$;  $B =$ Rs. $3,900$.

  2. $A =$ Rs. $2,900$;  $B =$ Rs. $2,700$.

  3. $A =$ Rs. $2,700$;  $B =$ Rs. $2,200$.

  4. $A =$ Rs. $2,400$;  $B =$ Rs. $3,600$.

Show answer
Correct Option: D
Explanation:
Let the M.P of the article A=$Rs.x$
Then M.P of the article B $=Rs(6000-x)$
Then according to the question

$\dfrac{8}{100}x+\dfrac{10}{100}(6000-x)=552$

$\Rightarrow \dfrac{8x}{100}+600-\dfrac{10x}{100}=552$

$\Rightarrow \dfrac{8x}{100}-\dfrac{10x}{100}=552-600$

$\Rightarrow -\dfrac{2x}{100}=-48$

$\Rightarrow x=\dfrac{4800}{2}=2400$

Hence M.P of article A $=Rs. 2400$
Then M.P of article $B=6000-2400=Rs.2600$


A shopkeeper sells an article for Rs. 21,384 including 10% sales-tax. However, the actual rate of sales-tax is 8%. Find the extra profit made by the dealer.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. Rs. 230

  2. Rs. 388.80

  3. Rs. 540.40

  4. Rs. 810

Show answer
Correct Option: B
Explanation:
Let the M.P of the article be $x$

$\therefore x+10\%$  of $x=21384$

$\Rightarrow x+\dfrac{10}{100}x=21384$

$\Rightarrow \dfrac{110x}{100}=21384$

$\Rightarrow x=\dfrac{213840}{11}=Rs.19440$

If the rate of sales $tax=8\%$

$\therefore $new selling price$=19440+8\% $ of $19440$

$\Rightarrow 19440+\dfrac{8}{100}\times 19440$

$\Rightarrow 19440+1555.20=rs.20995.20$

Profit made by the dealer$=21384-20995.20=Rs.388.80$


A bicycle is available for Rs. 1,664 including Sales Tax. If the list price of the bicycle is Rs. 1,600, find:
(i) the rate of Sales Tax
(ii) the price, a customer will pay for the bicycle if the Sales Tax is increases by 6%.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. (i) 1%
    (ii) Rs. 1,110

  2. (i) 2%
    (ii) Rs. 1,290

  3. (i) 3%
    (ii) Rs. 1,530

  4. (i) 4%
    (ii) Rs. 1,760

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Correct Option: D

A shopkeeper buys an article for Rs. 800 and spends Rs. 100 on its transportation, etc. He marks the article at a certain price and then sells it for Rs. 1,287 including 10% sales tax. Find this profit as per cent.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. 10%

  2. 20%

  3. 30%

  4. 40%

Show answer
Correct Option: C
Explanation:
C.P of the article=$800+100=Rs.900$
Let the $M.P=Rs.x$

$\therefore x+10\%$ of $x=1287$

$\Rightarrow x+\dfrac{10x}{100}=1287$

$\Rightarrow \dfrac{110x}{100}=1287$

$\Rightarrow x=\dfrac{1287\times 100}{110}$

$\Rightarrow x=Rs.1170$

Profit=$1170-900=Rs.270$

Profit%$=\dfrac{270}{900}\times 100=30$%

A shopkeeper marks his goods 40% above the cost price and then allows discount of 20%. Find how much will a customer pay for an article which costs the shopkeeper Rs. 200 and a Sales Tax of 10% is levied on the sale price of the article. (Give your answer correct to the nearest rupee).

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. Rs. 246

  2. Rs. 297

  3. Rs. 323

  4. Rs. 356

Show answer
Correct Option: A
Explanation:
Cost Price =Rs.200
Shopkeeper Mark the price 40% above the cost price then
$M.P=200+40\%  of  200$
$\Rightarrow 200+\dfrac{40}{100}\times 200$
$\Rightarrow 200+80=Rs.280$
Discount=20%
Then Price after discount$=280-20\% of 280$
$\Rightarrow 280-\dfrac{20}{100}\times 280$
$\Rightarrow 280-56=Rs.224$
Sales tax rate=10%
Then sales price$=224+10\% of 224$
$\Rightarrow 224+\dfrac{10}{100}\times 224$
$\Rightarrow 224+22.4=246.4\sim Rs.246$


The price of a T.V. set inclusive of Sales Tax of 9% is Rs. 13,407. Find its marked price. If Sales Tax is increased to 13%, how much more does the customer has to pay for the T.V. ?

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. Rs. 18,300;  Rs. 900.

  2. Rs. 16,300;  Rs. 720.

  3. Rs. 14,300;  Rs. 630.

  4. Rs. 12,300;  Rs. 492.

Show answer
Correct Option: D
Explanation:

let the marked price is $Rs.x$


$\therefore  x+9\%$  of $x=13407$


$\Rightarrow x+\dfrac{9}{100}=13407$

$\Rightarrow \dfrac{109x}{100}=13407$

$\Rightarrow x=\dfrac{13407\times 100}{109}$

$\Rightarrow x=Rs. 12300$

If the sales tax is increased 13% then
The price of the T.V$=12300+13\%$  of $12300$

$\Rightarrow 12300+\dfrac{13}{100}\times 12300$

$\Rightarrow 12300+1599=Rs.13899$

$\therefore$ customer pay =$13899-13407=Rs.492$ 

A trader buys an unfinished article for Rs. 1,800 and spends Rs. 600 on its finishing, packing, transportation, etc. He marks the article at such a price that will give him 20% profit. How much will a customer pay for the article including 12% sales tax.

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. Rs. 1223.20

  2. Rs. 2556.70

  3. Rs. 3000.30

  4. Rs. 3225.60

Show answer
Correct Option: D
Explanation:
`C.P of the article$=1800+600=Rs.2400$
Profit=20%
$\therefore S.P=\dfrac{100+profit\%}{100}\times 2400$

$\Rightarrow \dfrac{100+20}{100}\times 2400$

$\Rightarrow Rs.2880$

Then $M.P=Rs.2880$

Sales tax $rate=12\%$

Then customer will pay=$2880+12\%  of 2880$

$\Rightarrow 2880+\dfrac{12}{100}\times 2880$

$\Rightarrow 2880+345.6=Rs.3225.60$

A shopkeeper announces a discount of 15% on his goods. If the marked price of an article, in his shop, is Rs. 6,000; how much a customer has to pay for it, if the rate of Sales Tax is 10% ?

maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

  1. Rs. 5320

  2. Rs. 5610

  3. Rs. 5930

  4. Rs. 6120

Show answer
Correct Option: B