Tag: maths

Questions Related to maths

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$

The cost price of a saree is Rs. $1450$. The sales tax charged was $8\%$. Find the bill amount.

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

  1. Rs. $1540$

  2. Rs. $1566$

  3. Rs. $1254$

  4. Rs. $1584$

Show answer
Correct Option: B
Explanation:

Given, cost price of a saree is Rs. $1450$, tax charged $=8\%$
Tax paid $=\begin{pmatrix}\dfrac{8}{100}\end{pmatrix}\times1450=$ Rs. $116$
Thus, bill amount $=$ Rs. $\begin{bmatrix}1450+116\end{bmatrix}=$ Rs. $1566$.

Mike wants to buy something that costs $Rs. 1350$ before VAT. VAT is charged at $14\%$. Calculate the total cost after VAT is added.

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

  1. $Rs. 1500$

  2. $Rs. 1539$

  3. $Rs. 1234$

  4. $Rs. 1589$

Show answer
Correct Option: B
Explanation:

VAT $=14\%$ of the cost  $=\dfrac{14}{100}\times 1350=189$


So the total cost including VAT $=1350+189=1539$

John wants to buy something that costs $Rs. 230$ before VAT. VAT is charged at $0.5\%$. Calculate the total cost after VAT is added.

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

  1. $Rs. 234.5$

  2. $Rs. 239.1$

  3. $Rs. 239.4$

  4. $Rs. 231.15$

Show answer
Correct Option: D
Explanation:

VAT $=0.5\%$ of the cost  $=\dfrac{0.5}{100}\times 230=1.15$


So the total cost including VAT $=230+1.15=231.15$

A phone has a cost of $Rs. 1200$ excluding VAT at $10\%$. After VAT is included, what is the total cost?

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

  1. $Rs. 1200$

  2. $Rs. 1230$

  3. $Rs. 1320$

  4. $Rs. 2301$

Show answer
Correct Option: C
Explanation:

VAT $=10\%$ of the cost  $=\dfrac{10}{100}\times 1200=120$


So the total cost including VAT $=1200+120=1320$