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Sales Tax And Value Added Tax-II

This test will give you complete coverage on sales tax and value added tax. This test covers all the necessary formulas needed to solve any question from this chapter.

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Questions

Question 1 Multiple Choice (Single Answer)

A shopkeeper buys a LCD TV at a discount of 15% from the wholesaler. The market price of the TV is Rs. 28,000 and the sales tax is charged at 9%. The shopkeeper sells it to the buyer at the market price and charges the same sales tax on it.

What is the total amount to be paid by the buyer to get that TV?

  1. Rs. 33,040
  2. Rs. 30,520
  3. Rs. 32,200
  4. Rs. 34,720
  5. Rs. 29,680
Question 2 Multiple Choice (Single Answer)

Mr Ram bought a DVD set for Rs. 14,000. He sold it to Sham for Rs. 18,000. Sham sold it to Raj for Rs. 24,000. All the prices are excluding tax. The sales tax is charged at 8%.

What is the input tax amount paid by Mr. Ram?

  1. Rs. 1,120
  2. Rs. 1,440
  3. Rs. 1,920
  4. Rs. 320
  5. Rs. 2,560
Question 3 Multiple Choice (Single Answer)

A shopkeeper buys a LCD TV at a discount of 15% from the wholesaler. The market price of the TV is Rs. 28,000 and the sales tax is charged at 9%. The shopkeeper sells it to the buyer at the market price and charges the same sales tax on it.

Which of the following is the sales tax paid by the buyer to buy the TV?

  1. Rs. 2,520
  2. Rs. 5,040
  3. Rs. 4,200
  4. Rs. 6,720
  5. Rs. 1,680
Question 4 Multiple Choice (Single Answer)

A shopkeeper buys a LCD TV at a discount of 15% from the wholesaler. The market price of the TV is Rs. 28,000 and the sales tax is charged at 9%. The shopkeeper sells it to the buyer at the market price and charges the same sales tax on it.

What is discount given to the shopkeeper by the wholesaler?

  1. Rs. 2,520
  2. Rs. 5,040
  3. Rs. 4,200
  4. Rs. 6,720
  5. Rs. 1,680
Question 5 Multiple Choice (Single Answer)

Mr. Ram bought a DVD set for Rs. 14,000. He sold it to Sham for Rs. 18,000. Sham sold it to Raj for Rs. 24,000. All the prices are excluding tax. The sales tax is charged at 8%.

What is the output tax amount charged by Mr. Ram?

  1. Rs. 1,120
  2. Rs. 1,440
  3. Rs. 1,920
  4. Rs. 3200
  5. Rs. 2,560
Question 6 Multiple Choice (Single Answer)

Mr. Ram bought a DVD set for Rs. 14,000. He sold it to Sham for Rs. 18,000. Sham sold it to Raj for Rs. 24,000. All the prices are excluding tax. The sales tax is charged at 8%.

What is the value added tax paid by Mr. Ram?

  1. Rs. 800
  2. Rs. 1,440
  3. Rs. 480
  4. Rs. 320
  5. Rs. 2,560
Question 7 Multiple Choice (Single Answer)

Mr. Thomas purchased dress materials costing around Rs. 92,650 including the 9% sales tax. From these materials, he designed three types of dresses K, L and M. Excluding the tax, these dresses were sold at Rs. 20,000, Rs. 38,000 and Rs. 42,000. The sales tax rates on these dresses are 4%, 8% and 12% respectively.

What is the amount of sales tax paid by Mr. Thomas during the purchase of dress material?

  1. Rs. 8,338.50
  2. Rs. 7,650
  3. Rs. 7,007.14
  4. Rs. 850
  5. Rs. 10,294.44
Question 8 Multiple Choice (Single Answer)

Mr. Thomas purchased dress materials costing around Rs. 92,650 including 9% sales tax. From these materials, he designed three types of dresses K, L and M. Excluding the tax, these dresses were sold at Rs. 20,000, Rs. 38,000 and Rs. 42,000. The sales tax rates on these dresses are 4%, 8% and 12% respectively.

Which of the following is the total tax received by Mr. Thomas after selling all the dress materials?

  1. Rs. 800
  2. Rs. 3040
  3. Rs. 5040
  4. Rs. 8880
  5. Rs. 7280
Question 9 Multiple Choice (Single Answer)

A shopkeeper buys a LCD TV at a discount of 15% from the wholesaler. The market price of the TV is Rs. 28,000 and the sales tax is charged at 9%. The shopkeeper sells it to the buyer at the market price and charges the same sales tax on it.

Which of the following is the value added tax paid by the shopkeeper?

  1. Rs. 4,662
  2. Rs. 378
  3. Rs. 2,520
  4. Rs. 2,142
  5. Rs. 6,720
Question 10 Multiple Choice (Single Answer)

Mr Ram bought a DVD set for Rs. 14,000. He sold it to Sham for Rs. 18,000. Sham sold it to Raj for Rs. 24,000. All the prices are excluding tax. The sales tax is charged at 8%.

What is the value added tax paid by Sham?

  1. Rs. 800
  2. Rs. 1,440
  3. Rs. 480
  4. Rs. 320
  5. Rs. 2,560
Question 11 Multiple Choice (Single Answer)

Mr Thomas purchased dress materials costing around Rs. 92,650 including the 9% sales tax. From these materials, he designed three types of dresses K, L and M. Excluding the tax, these dresses were sold at Rs. 20,000, Rs. 38,000 and Rs. 42,000. The sales tax rates on these dresses are 4%, 8% and 12% respectively.

What will be the market price of the dress materials?

  1. Rs. 85,000
  2. Rs. 7,650
  3. Rs. 77,857.14
  4. Rs. 7,65,000
  5. Rs. 92,541
Question 12 Multiple Choice (Single Answer)

A shopkeeper buys a LCD TV at a discount of 15% from the wholesaler. The market price of the TV is Rs. 28,000 and the sales tax is charged at 9%. The shopkeeper sells it to the buyer at the market price and charges the same sales tax on it.

Which of the following is the sales tax paid by the shopkeeper?

  1. Rs. 2,520
  2. Rs. 4,200
  3. Rs. 6,720
  4. Rs. 2,142
  5. Rs. 1,680
Question 13 Multiple Choice (Single Answer)

Mr. Thomas purchased dress materials costing around Rs. 92,650 including 9% sales tax. From these materials, he designed three types of dresses K, L and M. Excluding the tax, these dresses were sold at Rs. 20,000, Rs. 38,000 and Rs. 42,000. The sales tax rates on these dresses are 4%, 8% and 12% respectively.

What is the value added tax deposited by Mr. Thomas?

  1. Rs. 1,230
  2. Rs. 8,880
  3. Rs. 7,650
  4. Rs. 16,530
  5. Rs. 510
Question 14 Multiple Choice (Single Answer)

A shopkeeper buys a LCD TV at a discount of 15% from the wholesaler. The market price of the TV is Rs. 28,000 and the sales tax is charged at 9%. The shopkeeper sells it to the buyer at the market price and charges the same sales tax on it.

What is the amount to be paid by the shopkeeper to the wholesaler to own the TV?

  1. Rs. 23,800
  2. Rs. 30,520
  3. Rs. 28,000
  4. Rs. 25,942
Question 15 Multiple Choice (Single Answer)

Mr Ram bought a DVD set for Rs. 14,000. He sold it to Sham for Rs. 18,000. Sham sold it to Raj for Rs. 24,000. All the prices are excluding tax. The sales tax is charged at 8%.

What is the total amount paid by Raj to buy the DVD set?

  1. Rs. 15,920
  2. Rs. 19,440
  3. Rs. 25,920
  4. Rs. 15,440
  5. Rs. 25,440
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