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Questions Related to maths

The cost of an article is $Rs\ 6,000$ to a distributor.He sells it to trader at $Rs \ 7,500$ and the trader sells it to customer for $Rs \ 8,000$. If the VAT rate is $12.5 \%$; find the VAT paid by distributor.

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

  1. Rs. 167.50

  2. Rs.177.50

  3. Rs. 180.50

  4. Rs.  187.50

Show answer
Correct Option: D
Explanation:

Vat rate = $12.5 \%$

Cost paid by distributor= $Rs \ 6000$
Then VAT paid by  distributor=$\dfrac{12.5}{100}\times 6000=750$ Rs
Cost paid by trader= $Rs  \ 7500$
VAT paid by trader=$\dfrac{12.5}{100}\times 7500=937.50$Rs 
Therefor VAT paid by Distributor= $Rs \ 750$
And VAT paid by trader = $Rs\ 937.50$
   

Vishal goes to a shop to buy a radio costing Rs. $2568$. The rate of sales tax is $7$%. He tells the shopkeeper to reduce the price of the radio to such an extent that he has to pay Rs. $2568$, inclusive of sales tax. Find the reduction needed in the price of the radio

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

  1. Rs. $179.76$

  2. Rs. $170$

  3. Rs. $168$

  4. Rs. $169$

Show answer
Correct Option: C
Explanation:

Let reduced price of the radio be Rs $ x$
$\therefore x+ \dfrac{7}{100} \times  x = 2568$
$ \Rightarrow 107x  = 256800$
$ \Rightarrow x = 2400$
$\therefore$ Reduction in the price of radio $ = 2568 - 2400 = 168$

Anad paid Rs30 as sales tax on a bottle of mineral water with marked price as Rs 400. Calculate the rate of sales tax.

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

  1. 15%

  2. 12.5%

  3. 6%

  4. 7.5%

Show answer
Correct Option: D
Explanation:

Marked price=$Rs\ 400$

Sales tax=$Rs\ 30$
Let the rate of sales tax be $x$
Therefore,
$\Rightarrow x\%\ of\ 400=30$
$\Rightarrow \dfrac{x}{100}\times 400=30$
$\Rightarrow 4x=30$
$\Rightarrow x=\dfrac{30}{4}$
$\Rightarrow x=7.5\%$

Som purchased a cycle for Rs $1,664$ including sales lax. The list price of the cycle is Rs $1,600$, then the rate of sales tax is

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

  1. $4$%

  2. $5$%

  3. $6$%

  4. $7$%

Show answer
Correct Option: A
Explanation:

Given, List price of cycle $=$ Rs.$1, 600$
Som purchased a cycle $=$ Rs. $ 1,664$
Sales tax is on the the list price.
Hence, rate of sales tax $=$ $ \dfrac{(1664 - 1600)}{1600} \times{100}$ $=$ $ 4$ $\%$

Shyam buys an article for Rs $10,000$ and pays $7\%$ tax. He sells the same article for Rs $13,000$ and charges $9 \%$ tax. Find the VAT paid by shyam.

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

  1. $470$

  2. $520$

  3. $670$ 

  4. $680$

  5. None of these

Show answer
Correct Option: A
Explanation:

$\Rightarrow$  Cost of article $= Rs. 10,000$.

$\Rightarrow$  Tax paid by Shyam $= 7\%$ of Rs. $10,000$
$\Rightarrow$  Tax paid by Shyam = $\dfrac{7}{100}\times 10000=Rs.700$
$\Rightarrow$  Selling price of the article  $=$ Rs. $13,000$
$\Rightarrow$  Tax charged at $9\% = 9\%$ of $13,000$
$\Rightarrow$  Tax charged at $9\% = \dfrac{9}{100}\times 13000=$ Rs. $1170$
$\Rightarrow$  VAT = Tax recovered on sale - Tax paid on purchase
$\Rightarrow$  VAT $= 1170 - 700$
$\therefore$   $VAT=Rs.470$


A colour TV is available for Rs 13,440 inclusive of sales tax. If the original cost of TV is Rs 12,000, then the rate of sales tax is:

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

  1. 10%

  2. 12%

  3. 13%

  4. 14%

Show answer
Correct Option: B
Explanation:

We have list price of the TV=Rs$12000$

Let the rate of Sales Tax be $x$%
Now, the rate of Sales Tax will be$=\dfrac { x }{ 100 } \times 12000=120x$
Price including sales tax$=13440$
$\Rightarrow 12000+120x=13440$
 $\Rightarrow 120x=1440$
$\Rightarrow x=\dfrac { 1440 }{ 120 } =12$
So the rate of sales tax is $12$%

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. $190$

Show answer
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$=21384-20995.20=Rs.388.80$