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

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%.

  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
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

(i) Tax = 1664 - 1600 = 64. Rate = (64/1600)*100 = 4%. (ii) New tax rate = 4% + 6% = 10%. New price = 1600 + (10% of 1600) = 1600 + 160 = 1760.

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

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.

  1. 10%

  2. 20%

  3. 30%

  4. 40%
Reveal answer Fill a bubble to check yourself
C Correct answer
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%$=\dfrac{270}{900}\times 100=30$%
Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

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).

  1. Rs. 246

  2. Rs. 297

  3. Rs. 323

  4. Rs. 356
Reveal answer Fill a bubble to check yourself
A Correct answer
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$=224+10\% of 224$
$\Rightarrow 224+\dfrac{10}{100}\times 224$
$\Rightarrow 224+22.4=246.4\sim Rs.246$


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

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. ?

  1. Rs. 18,300; Rs. 900.

  2. Rs. 16,300; Rs. 720.

  3. Rs. 14,300; Rs. 630.

  4. Rs. 12,300; Rs. 492.
Reveal answer Fill a bubble to check yourself
D Correct answer
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 =$13899-13407=Rs.492$ 

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

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.

  1. Rs. 1223.20

  2. Rs. 2556.70

  3. Rs. 3000.30

  4. Rs. 3225.60
Reveal answer Fill a bubble to check yourself
D Correct answer
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=$2880+12\%  of 2880$

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

$\Rightarrow 2880+345.6=Rs.3225.60$
Multiple choice maths gst (goods and service tax) more about gst commission, brokerage and vat taxation, calculation of income tax

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% ?

  1. Rs. 5320

  2. Rs. 5610

  3. Rs. 5930

  4. Rs. 6120
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Discounted price = 6000 - (15% of 6000) = 6000 - 900 = 5100. Sales tax = 10% of 5100 = 510. Total amount = 5100 + 510 = 5610.

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

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.

  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
Reveal answer Fill a bubble to check yourself
B Correct answer
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

$\Rightarrow 20976+2097.60=Rs.23073.60$

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

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.

  1. Rs. 800

  2. Rs. 600

  3. Rs. 400

  4. Rs. 300
Reveal answer Fill a bubble to check yourself
B Correct answer
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
$(x-.12x)+.12(x-.12x)=591.36$

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

$\Rightarrow .9856x=591.36$

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


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

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 ?

  1. Rs. $962$
  2. Rs. $1142$
  3. Rs. $1344$
  4. Rs. $1632$
Reveal answer Fill a bubble to check yourself
C Correct answer
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.$1344$

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

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.

  1. $7\%$
  2. $10\%$
  3. $13\%$
  4. $18\%$
Reveal answer Fill a bubble to check yourself
C Correct answer
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 $= \displaystyle\frac{9.10}{70} \times 100\% = 13\%$