Tag: more about gst

Questions Related to more about gst

The catalogue price of a colour T.V. is Rs. 24,000. The shopkeeper gives a discount of 8% on the list price. He gives a further off season discount of 5% on the balance. But Sales Tax at 10% is charged on the remaining amount. Find:
(a) the Sales Tax a customer has to pay
(b) the final price he 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. (a) Rs. 2,16060    (b) Rs. 23,112.60

  2. (a) Rs. 2,097.60    (b) Rs. 23,073.60

  3. (a) Rs. 1,976.60    (b) Rs. 23,243.60

  4. (a) Rs. 1,850.60    (b) Rs. 23,513.60

Show answer
Correct Option: B
Explanation:

List price $=Rs.24000$


Discount $=8\%$


Price of T.V after Discount

$\Rightarrow 24000-8\%$  of  $ 24000$

$\Rightarrow 24000-\dfrac{8}{100}\times 24000$

$\Rightarrow 24000-1920=Rs.22080$

Off season Discount=5%
Price of T.V after off season discount

$\Rightarrow 22080-5\% of 22080$

$\Rightarrow 22080-\dfrac{5}{100}\times 22080$

$\Rightarrow 22080-1104=Rs.20976$

Rate of Sales tax=10%
(a)Customer has to pay sales tax

$\Rightarrow 10\% of 20976$

$\Rightarrow \dfrac{10}{100}\times 20976=Rs.2097.60$

(b)The final price he has to pay

$\Rightarrow 20976+2097.60=Rs.23073.60$

A toy is purchased for Rs. 591.36 which includes 12% rebate on the printed price and 12% Sales Tax on the sale price of the toy. Find the printed price of the toy.

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

  1. Rs. 800

  2. Rs. 600

  3. Rs. 400

  4. Rs. 300

Show answer
Correct Option: B
Explanation:
Let the printed price be $Rs.x$

Rebate $=12\%$

Then sales price$=x-12\%  of  x$

$\Rightarrow x-\dfrac{12x}{100}$

$\Rightarrow (x-.12x)$

Sales tax rate $=12\%$

Then sales tax $= 12\%$  of   $(x-.12x)$

$\Rightarrow \dfrac{12}{100}\times (x-.12x)$

$\Rightarrow .12(x-.12x)$

Then according to the question
$(x-.12x)+.12(x-.12x)=591.36$

$\Rightarrow x-.12x+.12x-.0144x=591.36$

$\Rightarrow .9856x=591.36$

$\Rightarrow x=\dfrac{591.36}{.9856}=600$


A shopkeeper sells an article at the listed price of Rs. $1,500$ and the rate of $VAT$ is $12\%$ at each stage of sale. If the shopkeeper pays a $VAT$ of Rs. $36$ to the Government, what was the price, inclusive of Tax, at which the shopkeeper purchased the article from the wholesaler ?

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

  1. Rs. $962$

  2. Rs. $1142$

  3. Rs. $1344$

  4. Rs. $1632$

Show answer
Correct Option: C
Explanation:

Let the profit of the shopkeeper is Rs.$x$.

The value of the article increased by the shopkeeper is Rs.$x$
$VAT$ paid by the shopkeeper is Rs.$36$ at rate of sales tax $12\%$
$\therefore $ $12\%$ of $x=36$
$\Rightarrow \dfrac{12}{100}x=36$
$\Rightarrow x=\dfrac{36\times 100}{12}=$ Rs.$300$
$\therefore$ Profit of the shopkeeper $=$ Rs.$300$
Price of the article at which shopkeeper bought the article fron the wholesaler $=1500-300=$ Rs.$1200$
Sales tax paid by the shopkepper $=12\%$ of $1200$
$\Rightarrow \dfrac{12}{100}\times 1200=$ Rs.$144$
$\therefore$ The price at which the shopkeeper purchased the article from the wholesaler$=1200+144=$ Rs.$1344$

Geeta purchased a face-cream for Rs. $79.10$ including Sales Tax. If the printed price of the face-cream is Rs. $70$; find the rate of Sales Tax.

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

  1. $7\%$

  2. $10\%$

  3. $13\%$

  4. $18\%$

Show answer
Correct Option: C
Explanation:

Total price (including Sales Tax) $=$ Rs. $79.10$ and, printed price $=$ Rs. $70$
$\therefore$ Sales Tax paid $=$ Rs. $79.10 -$ Rs. $70 =$ Rs. $9.10$
and the rate of Sales Tax $= \displaystyle\frac{9.10}{70} \times 100\% = 13\%$

A shopkeeper buys an article for Rs. 7,500 and increases its price. He sells this article for Rs. 9,156 including 9% Sales Tax on the increased price. Calculate, by how much per cent does the shopkeeper increase the price of the article.

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

  1. 5%

  2. 7%

  3. 9%

  4. 12%

Show answer
Correct Option: D
Explanation:
Let the M.P $=Rs.x$

$\therefore x+9\%$  of $x=9156$

$\Rightarrow x+\dfrac{9x}{100}=9156$

$\Rightarrow 109x=915600$

$\Rightarrow x=\dfrac{915600}{109}=Rs.8400$

Increased price $=8400-7500=Rs.900$

% increase$=\dfrac{900}{7500}\times 100=12$%

Given basic price $=12000$, VAT $=10\%$, find VAT to be paid.

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

  1. $1200$

  2. $120$

  3. $1500$

  4. $1000$

Show answer
Correct Option: A
Explanation:

VAT $=\begin{pmatrix}\dfrac{VAT\%}{100}\end{pmatrix}\times\text{basic price}$
VAT $=\begin{pmatrix}\dfrac{10}{100}\end{pmatrix}\times12000$
VAT $=1200$

When you buy a car for $15,000$ rupees and pay $10\%$ in tax. How much is sales tax?

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

  1. Rs. $15,000$

  2. Rs. $20,000$

  3. Rs. $16,500$

  4. Rs. $17,000$

Show answer
Correct Option: C
Explanation:

Given:
Person buys car for Rs. $ 15,000$
Pays tax of $ 10 $ $\%$
Sales tax is calculated on the buying cost.
Total tax = $ 15000\times(\dfrac{10}{100})$
$=$ Rs .$ 1500 $
Total Sales Tax $=$  cost $+$ Tax 
$=$ $  15000 + 1500$
$=$ Rs .$ 16,500$

Thus, the sales tax is Rs. $16,500$.

Ram purchased a phone for Rs $5400$ including VAT. Find the price before VAT was added . The VAT is $8 \%$

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

  1. $5000$

  2. $500$

  3. $50000$

  4. $540$

Show answer
Correct Option: A
Explanation:
Let the price before VAT be $Rs. x$

Then Price after VAT = $\dfrac{108x}{100}$

Hence  $x$ $ =5400\times\begin{pmatrix}\dfrac{100}{108}\end{pmatrix}=5000$

Find the final price for the product after a tax is applied for diamond ring. The cost of the ring is $280$ rupees and the tax rate is $12\%$.

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

  1. Rs. $313.6$

  2. Rs. $302,4$

  3. Rs. $307.12$

  4. Rs. $312.3$

Show answer
Correct Option: A
Explanation:

$\Rightarrow$  Cost price of ring is $Rs.280$

$\Rightarrow$  Tax rate is $12\%$
$\Rightarrow$  Tax applied on a ring = $280\times \dfrac{12}{100}=Rs.33.6$
$\Rightarrow$  Final Price = Cost price of ring + Tax applied on a ring
$\Rightarrow$  Final price = $Rs.280+Rs.33.6=Rs.313.6$

When you buy a home for $2,50,000$ rupees and pay $50\%$ in tax. How much is tax?

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

  1. Rs. $2,50,000$

  2. Rs. $1,25,000$

  3. Rs. $3,75,000$

  4. None of these

Show answer
Correct Option: B
Explanation:

Given: Person buys home for Rs. $2,50,000$
Tax paid is $50$ $\%$ of the cost
Hence,

Tax $=$ $ 2,50,000\times (\dfrac{50}{100})$
$=$ $ 1,25,000$