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Questions Related to maths

Hamid purchases some articles costing Rs. 5,460. The shopkeeper charged Sales Tax at 8%. As Hamid wanted to take the articles purchases outside the State, the shopkeeper charged 3% as Central Sales Tax on the actual price of the articles. Find the total amount Hamid had to pay for the articles.

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

  1. $Rs. 6,060.60$

  2. $Rs.4,060.60$

  3. $Rs. 5,060.60$

  4. None of these

Show answer
Correct Option: A
Explanation:

Hamid purchase some articles $Rs 5460$

He paid $8 \%$ sales tax on it =$\dfrac{5460\times 8}{100}=RS. 436.80$ 

And $3\%$ central sales tax on it =$\dfrac{5460\times 3}{100}=Rs. 163.80$

Then he pay total amount  $=5460.00+436.80+163.80= Rs.6060.60$

When the rate of sale-tax is decreased from 9% to 6% for a coloured T.V.; Mrs. Geeta will save Rs. 780 in buying this T.V. Find the list price of the T.V.

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

  1. $Rs. 26,000$

  2. $Rs. 25,000$

  3. $Rs. 30,000$

  4. None of these

Show answer
Correct Option: A
Explanation:
Let the list price of T.V is $Rs x$

Then sales tax @9% =$\dfrac{x\times 9}{100}=\dfrac{9x}{100}$

And  sales tax @6% =$\dfrac{x\times 6}{100}$=$\dfrac{6x}{100}$ 

Then geeta save Rs $\dfrac{6x}{100}$-$\dfrac{6x}{100}$

But she save Rs 780

$\dfrac{9x}{100}-\dfrac{6x}{100}=780$

$\Rightarrow \dfrac{9x-6x}{100}=780$
$\Rightarrow 3x=78000$

$\Rightarrow x=26000$ 
Then list price of T.V $=Rs 26000$

An article is marked at Rs. 4,500 and the rate of sales-tax on it is 6%. A trader buys this article at some discount and sells it to a customer at the marked price. If the trader pays Rs. 81 as VAT, find:
(i) how much per cent discount does the trader get ?
(ii) the total money paid by the trader, including tax, to buy the article.

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

  1. $ 30\% ;  Rs. 3,339$

  2. $ 10\% ;  Rs. 2,339$

  3. $ 15\% ;  Rs. 4,339$

  4. None o these

Show answer
Correct Option: A
Explanation:
Marked price of the article $=Rs.4500$
Rate of sales tax $=6\%$
VAT paid by the trader $=Rs.81$
C.P for the customer=Rs.4500
Sales tax paid=$4500\times \dfrac{6}{100}=Rs.270$
So sales tax paid by the trader$=270-81=Rs.189$
C.P for the trader$=\dfrac{4500\times 189}{270}=Rs.3150$
(1)
Amount of discount=$4500-3150=Rs.1350$
Rate of discount$=\dfrac{1350\times 100}{4500}=30$%
(2)
Total amount paid by the trader$=3150+6\%  of   3150$
$\Rightarrow 3150+\dfrac{6}{100}\times 3150$
$\Rightarrow 3150+189=Rs.3339$



______ is imposed on all stages between production and final sale.

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

  1. discount

  2. profit

  3. sales tax

  4. VAT

Show answer
Correct Option: D
Explanation:

VAT is a type of tax that is assessed incrementally, based on the increase in value of a product or service at each stage of production or distribution.

The cost of a pair of shirts at a shop was Rs. $450$. The sales tax charged was $5\%$. Find the bill amount.

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

  1. $472.5$

  2. $432.5$

  3. $473.5$

  4. $433.5$

Show answer
Correct Option: A
Explanation:

Cost price of a pair of shirts is Rs. $450$.

Tax charged is $5\%$
Tax charged $=$ $\dfrac{5}{100}\times 450=$ Rs. $22.5$
Bill amount $=$ Cost price $+$ Tax charged.
Bill amount $=$ Rs. $450+$ Rs. $22.5=$ Rs. $472.5$

The rate of GST on stainless steel utensils is $18\%$, then the rate of state GST is:

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

  1. $18\%$

  2. $9\%$

  3. $36\%$

  4. $0.9\%$

Show answer
Correct Option: B
Explanation:

For intrastate movement, Central GST and State GST are two components of GST tax law. 

If a sale of Rs. $100$ occurs in a state itself, then CGST $9\%$ and SGST $9\%$ will be levied on the total bill, that is Rs. $118$ where Rs. $9$ will go to State Government and Rs. $9$ will go to Central Government. 

$\Rightarrow$ Rate of state GST $= 9\%$

In the format of GSTIN, how many alpha-numerals are present?

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

  1. $15$

  2. $10$

  3. $16$

  4. $9$

Show answer
Correct Option: A
Explanation:

Every taxpayer is assigned a state-wise PAN-based Goods and Services Taxpayer Identification Number (GSTIN), which has 15 alpha-numerical present.

Rate of GST on brokerage is:

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

  1. $5\%$

  2. $12\%$

  3. $18\%$

  4. $28\%$

Show answer
Correct Option: C
Explanation:

Brokerage is a service and comes under the provision of GST. There is 18% GST rate on brokerage on transaction value.

To find the cost of one share at the time of buying the amount of Brokerage and GST is to be _______ the MV of share.

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

  1. added to

  2. subtracted from

  3. multiplied with

  4. divided by

Show answer
Correct Option: A
Explanation:

Cost of Share $=$ Market Value of Share $+$ Amount of Brokerage & GST

Rate of GST on essential commodities is:

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

  1. $5\%$

  2. $12\%$

  3. $0\%$

  4. $18\%$

Show answer
Correct Option: C
Explanation:

Items such as unbranded atta/maida/besan, unpacked food grains, milk, eggs, curd, lassi, fresh vegetables and contraceptives, come under the category of essential commodities used by common man, and are exempted from GST($0\%$).