GST ML Aggarwal for ICSE Class 10 Maths Exe-1

GST ML Aggarwal for ICSE Class 10 Maths Exe-1. Step by step solutions of questions as council latest guideline for upcoming exam. Visit official Website CISCE for detail information about ICSE Board Class-9.

GST ML Aggarwal for ICSE Class 10 Maths Exe-1

Board	ICSE
Subject	Maths
Class	9th
Chapter-1	GST
Writer / Book	Understanding
Topics	Solutions of Exe-1
Academic Session	2024-2025

Exercise-1 

GST ML Aggarwal for ICSE Class 10 Maths Exe-1

Question-1. An article is marked at * 15000. A dealer sells it to a consumer at 10% profit. If the rate of GST is 12%, find:

(i) the selling price (excluding tax) of the article.
(ii) the amount of tax (under GST) paid by the consumer.
(Iii) the total amount paid by the consumer

Answer:

(i) the selling price (excluding tax) of the article.

15000+(15000×10)/100

150000+1500

16500

(ii) the amount of tax (under GST) paid by the consumer.

(16500×12) / 100

1980

(Iii) the total amount paid by the consumer

16500+1980

18480

Question-2 . A shopkeeper buy goods worth 4000 and sells these at a profit of 20% to a consumer in the same state. If GST is charged at 5%, find:

(i) the selling price (excluding tax) of the goods.
(ii) CGST paid by the consumer.
(iii) SGST paid by the consumer.
(iv) the total amount paid by the consumer.

Answer:

(i) the selling price (excluding tax) of the goods.

4000+4000×20/100

4000+800

4800

(ii) CGST paid by the consumer.

4800 x 2.5/100

120

(IiI) SGST paid by the consumer.

4800 x 2.5/100

120

(iv) the total amount paid by the consumer.

Amount  = Selling price + CGST + SGST

4800 +  120 +  120

5040

Question-3. The marked price of an article is 12500. A dealer in Kolkata sells the article to consumer in the same city at a profit of 8%. If the rate of GST is 18%, find

(i) the selling price (excluding tax) of the article
(ii) IGST, CGST and SGST paid by the dealer to the Central and State Government
(iii) the amount which the consumer pays for the article.

Answer:

(i) the selling price (excluding tax) of the article

12500 + 12500 x 8/100

12500 + 1000

13500

(ii) IGST, CGST and SGST paid by the dealer to the Central and State Government

IGST, is nil due to intra state

CGST paid by the dealer to the Central Government

13500 x 9/100

1215

SGST paid by the dealer to the State Government

13500 x 9/100

1215

(iii) the amount which the consumer pays for the article.

Amount  = Selling price + CGST + SGST

13500 + 1215 +1215

15930

(ML Aggarwal Solutions GST Exe-1 Questions for ICSE)

Question-4. A shopkeeper buys an article from a wholesaler for 20000 and sells it to a consumer at 10% profit. If the rate of GST is 12%, find the tax liability of the shopkeeper.

Answer:

CP of article  = 20000

Profit = 10% profit

rate of GST is 12%

to find the tax liability first find Selling Price

SP= CP+ Profit

SP = 20000 + 20000 x 10/100

=20000 + 2000

= 22000

now the tax liability= output CGST + SGST- input CGST + SGST

⇒(22000 x 5/100) +  (22000 x5/100) –  (20000 x 5/100) +  (20000 x5/100)

⇒ (1100 + 1100)- (1000+1000)

⇒ 2200 – 2000

⇒ 200

Question-5. A dealer buys an article for 6000 from a wholesaler. The dealer sells the article consumer at 15% profit. If the sales are intra-state and the rate of GST is 18%, find

(i) input CGST and input SGST paid by the dealer.
(ii) output CGST and output SGST collected by the dealer.
(iii) the net CGST and SGST paid by the dealer.
(iv) the total amount paid by the consumer.

Answer:

(i) input CGST and input SGST paid by the dealer.

input CGST 6000 x 9/100 and input SGST  6000 x 9/100

540 and 540

(ii) first find SP

CP + Profit

6000 + 6000 x15/100

6000 +900

6900

output CGST 6900 x 9/100 and output SGST  6900 x 9/100

621 +621

1242

(iii) the net CGST paid by the dealer.

net CGST paid by the dealer. = output CGST – input CGST

= 621-540

= 81

net SGST paid by the dealer.

net SGST paid by the dealer. = output SGST – input SGST

= 621-540

= 81

(iv) the total amount paid by the consumer.

SP + SGST + CGST

6900 +81+81

7062

Question-6.  A manufacturer buys raw material worth 7500 paying GST at the rate of 5%. He sell the finished product to a dealer at 40% profit. If the purchase and the sale both are intra-state and the rate of GST for the finished product is 12%, find:

(i) the input tax (under GST) paid by the manufacturer
(ii) the output tax (under GST) collected by the manufacturer
(iii) the tax (under CST) paid by the manufacturer to the Central and State Governments.
(iv) the amount paid by the dealer for the finished product.

Answer:

(i) SP = 7500+7500 x40/100

SP = 7500+3000

SP=10500

the input tax (under GST) paid by the manufacturer

CGST= 7500 x2.5/100

=187.5

SGST=7500 x 2.5/100

=187.5

(ii) the output tax (under GST) collected by the manufacturer

CGST = 10500 x 6 /100

=630

SGST = 10500 x 6 /100

=630

(iii) the tax (under CST) paid by the manufacturer to the Central  Governments.

CGST =  output tax – input tax

CGST =  10500 x6 /100 – 7500 x 2.5/100

= 630-187.5

=442.50

SGST =  output tax – input tax

SGST =  10500 x6 /100 – 7500 x 2.5/100

= 630-187.5

=442.50

(iv) the amount paid by the dealer for the finished product.

= SP+ Tax

=10500 + 10500 x12/100

=10500 + 1260

=11760

---

Exercise-1 

ML Aggarwal Solutions GST ICSE Class 10 Ch-1

Page 16

Question-7.  A manufacturer sells a TV. to a dealer for 18000 and the dealer sell it to a consumer at a profit of R1500. If the sales are intra-state and the rate of GST is 12%, find:

(i) the amount of GST paid by the dealer to the State Government
(ii) the amount of GST received by the Central Government
(iii) the amount of GST received by the State Government .
(iv) the amount that the consumer pays for the TV

Answer:

It is a case of intra-state

SGST = CGST = ½ GST

Given:

Manufacturer sells T.V to a dealer = ₹ 18000

Amount of GST collected by manufacturer from dealer,

CGST – SGST = 6% of 18000

= (6/100) × 18000

= ₹ 1080

So, Manufacturer will pay ₹ 1080 as CGST and ₹ 1080 as SGST

CP of a TV for dealer = ₹ 18000

Profit = ₹ 1500

SP of a TV for dealer to customer – CP + Profit = ₹ 18000 + ₹ 1500

= ₹ 19500

Amount of GST collected by dealer from customer,

CGST = SGST = 6% of ₹ 19500

= (6/100) × 19500

= ₹ 1170

(i) Amount of GST paid by the dealer to the State Government.

₹ 1170 – ₹ 1080 = ₹ 90

(ii) Amount of GST received by the Central Government.

CGST paid by manufacturer + CGST paid by dealer = ₹ 1080 + ₹ 90

= ₹ 1170

(iii) Amount of GST received by the State Government.

SGST paid by manufacturer + SGST paid by dealer = ₹ 1080 + ₹ 90

= ₹ 1170

(iv) Amount that the consumer pays for the TV.

CP of TV + CGST paid by customer + SGST paid by customer

= ₹19500 + ₹1170 + ₹ 1170 = ₹ 21840

Question-8.  A shopkeeper buys a camera at a discount of 20% from a wholesaler, the printed price of the camera being RS 1600. The shopkeeper sells it to a consumer at the printed price.

If the sales are intra-state and the rate of GST is 12%, find:

(i) GST paid by the shopkeeper to the Central Government.
(ii) GST received by the Central Government.
(iii) GST received by the State Government
(iv) the amount at which the consumer bought the camera

Answer :

It is a case of intra-state

SGST = CGST = ½ GST

Given:

Printed price of a camera = ₹ 1600

Rate of discount = 20%

CP of camera for shopkeeper = printed price – Discount

= ₹1600 – 20% of ₹1600

= ₹1600 – (20/100) × 1600

= ₹1600 – ₹320

= ₹1280

It is given that, rate of GST = 12%

Amount of GST paid by the shopkeeper to the wholesaler,

CGST = SGST = 6% of ₹1280

= (6/100) × 1280

= ₹76.80

(i) GST paid by the shopkeeper to the Central Government

CGST = SGST = 6% of ₹1600

= (6/100) × 1600

= ₹96

GST paid by the shopkeeper to the Central Government = ₹96 – ₹76.80 = ₹19.20

(ii) GST received by the Central Government.

CGST paid by wholesaler + CGST paid by shopkeeper = ₹76.80 + ₹19.20 = ₹96

(iii) GST received by the State Government.

SGST paid by wholesaler + SGST paid by shopkeeper = ₹76.80 + ₹19.20 = ₹96

(iv) The amount at which the consumer bought the camera.

Amount paid by consumer for camera = CP of camera + CGST paid by consumer + SGST paid by consumer = ₹1600 + ₹96 + ₹96 = ₹1792

Question-9 A dealer buys an article at a discount of 30% from the wholesaler, the marked price  being 6000. The dealer sells it to a consumer at a discount of 10% on the marked price.

If the sales are intra-state and the rate of GST is 5%, find:

(i) the amount paid by the consumer for the article.
(ii) the tax (under GST) paid by the dealer to the State Government.
(iii) the amount of tax (under GST) received by the Central Government

Answer:

Since , it is a case of intra – state transaction of good and service.

SGST=CGST=(1/2) GST;

Rate of GST=5%

Rate of discount given by the wholesaler = 30%

CP of an article for dealer = Marked price – Discount

= ₹6000 – 30% of ₹6000

= ₹6000 – (30/100) × 6000

= ₹6000 – 1800

= ₹4200

Amount of GST paid by dealer to wholesaler,

CGST = SGST = 2.5% of ₹4200

= (2.5/100) × 4200

= ₹105

(i) The amount paid by the consumer for the article.

SP of an article for consumer = Marked price – Discount

= ₹6000 – 10% of ₹6000

= ₹6000 – (10/100) × 6000

= ₹6000 – 600

= ₹5400

Amount of GST paid by consumer to dealer,

CGST = SGST = 2.5% of ₹5400

= (2.5/100) × 5400

= ₹135

Amount paid by consumer for article = CP of article for consumer + CGST paid by consumer + SGST paid by consumer = ₹5400 + ₹135 + ₹135 = ₹5670

(ii) The tax (under GST) paid by the dealer to the State Government.

₹135 – ₹105 = ₹30

(iii) The amount of tax (under GST) received by the Central Government.

CGST paid by wholesaler + CGST by dealer = ₹105 + ₹30 = ₹135

Question-10. The printed price of an article is 50000. The wholesaler allows a discount of 10% to a shopkeeper. The shopkeeper sells the article to a consumer at 4% above the marked price. If the sales are intra-state and the rate of GST is 18%, find:

(i) the amount inclusive of tax (under GST) which the shopkeeper pays for the article
(ii) the amount paid by the consumer for the article.
(iii) the amount of tax (under GST) paid by the shopkeeper to the Central Government
(iv) the amount of tax (under GST) received by the State Government.

Answer:

It is a case of intra-state

SGST = CGST = ½ GST

Given:

Marked price of an article = ₹50000

Rate of GST = 18%

(i) The amount inclusive of tax (under GST) which the shopkeeper pays for the articles.

Rate of discount given by the wholesaler = 10%

CP of an article for shopkeeper = Marked price – Discount

= ₹50000 – 10% of ₹50000

= ₹50000 – (10/100) × 50000

= ₹50000 – 5000

= ₹45000

Amount of GST paid by dealer to wholesaler,

CGST = SGST = 9% of ₹45000

= (9/100) × 45000

= ₹4050

Amount paid by shopkeeper for an article = CP of an article for shopkeeper + CGST paid by consumer + SGST paid by consumer = ₹45000 + ₹4050 + ₹4050 = ₹53100

(ii) The amount paid by the consumer for the article.

SP of an article for consumer = Marked price – Discount

= ₹50000 – 4% of ₹50000

= ₹50000 – (4/100) × 50000

= ₹50000 – 2000

= ₹48000

Amount of GST paid by consumer to dealer,

CGST = SGST = 9% of ₹48000

= (9/100) × 48000

= ₹4320

Amount paid by consumer for article = CP of article for consumer + CGST paid by consumer + SGST paid by consumer = ₹48000 + ₹4320 + ₹4320 = ₹56640

(iii) The amount of tax (under GST) paid by the shopkeeper to the Central Government.

₹4320 – ₹4050 = ₹270

(iv) The amount of tax (under GST) received by the State Government.

SGST paid by wholesaler + SGST paid by shopkeeper = ₹4050 + ₹270 = ₹4320

(ML Aggarwal Solutions GST Exe-1 Questions for ICSE)

Question-11.  A retailer buys a T.V. from a wholesaler for 40000. He marks the price of the TV 15% above his cost price and sells it to a consumer at 5% discount on the marked price. If the sales are intra-state and the rate of GST is 12%, find:

(i) the marked price of the TV.
(ii) the amount which the consumer pays for the TV,
(iii) the amount of tax (under GST) paid by the retailer to the Central Government.
(iv) the amount of tax (under GST) received by the State Government.

Answer:

It is a case of intra-state

SGST = CGST = ½ GST

Given:

(i) The marked price of the TV.

It is given that, CP of TV for retailer = ₹40000

Marked price of TV = ₹40000 + 15% of 40000

= ₹40000 + (15/100) × 40000

= ₹40000 + 6000

= ₹46000

(ii) The amount which the consumer pays for the TV.

It is given that, Discount given by retailer = 5% of ₹46000

= (5/100) × 46000

= ₹2300

Amount paid by consumer without GST for TV = ₹46000 – ₹2300

= ₹43700

Rate of GST = 12%

Amount of GST paid by consumer = 12% of ₹43700

= (12/100) × 43700

= ₹5244

Amount which consumer pays for TV = ₹43700 + ₹5244 = ₹48944

(iii) The amount of tax (under GST) paid by the retailer to the Central Government.

CGST paid by shopkeeper = 6% of ₹40000

= (6/100) × 40000

= ₹2400

SGST paid by shopkeeper = 6% of ₹40000 = ₹2400

Shopkeeper sells the article to consumer = ₹43700

GST collected by shopkeeper = 12% of ₹43700

= (12/100) × 43700

= ₹5244

CGST of shopkeeper = SGST = 6% of ₹43700

= (6/100) × 43700

= ₹2622

The amount of tax (under GST) paid by the retailer to the Central Government =

₹2622 – ₹2400 = ₹222

(iv) The amount of tax (under GST) received by the State Government.

SGST paid by wholesaler + SGST paid by shopkeeper = ₹2400 + ₹222 = ₹2622

(ML Aggarwal Solutions GST Exe-1 Questions for ICSE)

Question-12. A shopkeeper buys an article from a manufacturer for 12000 and marks up it price by  25%. The shopkeeper gives a discount of 10% on the marked up price and he gives further off-season discount of 5% on the balance to a customer of T.V. If the sales are
intra-state and the rate of GST is 12%, find:

(i) the price inclusive of tax (under GST) which the consumer pays for the T.V.
(ii) the amount of tax (under GST) paid by the shopkeeper to the State Government.
(iii) the amount of tax (under GST) received by the Central Government,

Answer:

It is a case of intra-state

Therefore SGST = CGST = ½ GST

Given:

(i) The price inclusive of tax (under GST) which the consumer pays for the TV.

CP of an article for shopkeeper = ₹12000

Marked price of article = ₹12000 + 25% of ₹12000

= ₹12000 + (25/100) × 12000

= ₹15000

Amount of discount given by shopkeeper = 10% of ₹15000

= (10/100) × 15000

= ₹1500

Again, shopkeeper gives off season discount of 5% on the balance = 5% of (15000 – 1500) = (5/100) × 13500

= ₹675

CP of TV for consumer = ₹13500 – ₹675 = ₹12825

Amount of GST paid by consumer = 12% of ₹12825

= (12/100) × 12825

= ₹1539

The price inclusive of tax (under GST) which the consumer pays for the TV = ₹12825 + ₹1539 = ₹14364

(ii) The amount of tax (under GST) paid by the shopkeeper to the Stale Government.

CGST = SGST = 6% of ₹12000

= (6/100) × 12000

= ₹720

GST paid by consumer to shopkeeper,

CGST = SGST = 6% of ₹12825

= (6/100) × 12825

= ₹769.50

The amount of tax (under GST) paid by the shopkeeper to the Stale Government =

₹769.50 – ₹720 = ₹49.50

(iii) The amount of tax (under CST) received by the Central Government.

CGST paid by manufacturer = ₹720

CGST paid by shopkeeper = ₹769.50 – ₹720 = ₹49.50

The amount of tax (under CST) received by the Central Government =

₹720 + ₹49.50 = ₹769.50

---

ML Aggarwal Solutions GST Exe-1 Questions for ICSE

Page 17

Question-13  The printed price of an article is 40000. A wholesaler in Uttar Pradesh buys the article from manufacturer in Gujarat at a discount of 10% on the printed price. The wholesaler … the article to a retailer in Himachal at 5% above the printed price. If the rate of

GST on the article to 18%, find:

(i) the amount inclusive of tax (under GST) paid by the wholesaler for the article.
(ii) the amount inclusive of tax (under GST) paid by the retailer for the article.
(iii) the amount of tax (under GST) paid by the wholesaler to the Central Government.
(iv) the amount of tax (under GST) received by the Central Government.

Answer:

It is inter-state in both case sales from manufacturer to wholesaler and wholesaler to retailer.

Therefore, CGST = SGST = 0

GST = IGST

Given:

Printed price of an article = ₹40000

Discount given by manufacturer = 10% of ₹40000

= (10/100) × 40000

= ₹4000

CP of article for wholesaler = ₹40000 – ₹4000 = ₹36000

CP of article without tax for retailer = ₹40000 + 5% of ₹40000

= ₹40000 + (5/100) × 40000

= ₹42000

(i) The amount inclusive of tax (under GST) paid by the wholesaler for the article.

Amount of GST paid by wholesaler to manufacturer = 18% of ₹36000

= (18/100) × 36000

= ₹6480

The amount inclusive of tax (under GST) paid by the wholesaler for the article =

₹36000 + ₹6480 = ₹42480

(ii) The amount inclusive of tax (under GST) paid by the retailer for the article.

Amount of GST paid by retailer to wholesaler = 18% of ₹42000

= (18/100) × 42000

= ₹7560

The amount inclusive of tax (under GST) paid by the retailer for the article =

₹42000 + ₹7560 = ₹49560

(iii) The amount of tax (under GST) paid by the wholesaler to the Central Government.

Amount of GST paid by wholesaler to manufacturer = 18% of ₹36000

= (18/100) × 36000

= ₹6480

Amount of GST paid by retailer to wholesaler = 18% of ₹42000

= (18/100) × 42000

= ₹7560

The amount of tax (under GST) paid by the wholesaler to the Central Government =

₹7560 – ₹6480 = ₹1080

(iv) The amount of tax (under GST) received by the Central Government.

IGST paid by wholesaler to the Central Government = ₹1080

IGST paid by manufacturer = ₹6480

The amount of tax (under GST) received by the Central Government = ₹1080 + ₹6480

= ₹7560

(ML Aggarwal Solutions GST Exe-1 Questions for ICSE)

Question-14. A dealer in Delhi buys an article for 16000 from a wholesaler in Delhi. He sells the Article to a consumer in Rajasthan at a profit of 25%. If the rate of GST is 5%, find.

(i)in the tax (under GST) paid by the wholesaler to Governments.
(ii) the tax (under GST) paid by the dealer to the Government
(iii) the amount which the consumer pay for the article.

Answer:

SP of dealer =16000 + 16000 x 25/100

=16000 + 4000

= 20000

(i) CGST paid by the wholesaler to Governments.

= Output tax – Input Tax

= 20000 x 2.5 /100 -1600 x 2.5/100

=400

SGST paid by the wholesaler to Governments.

= Output tax – Input Tax

= 20000 x 2.5 /100 -16000 x 2.5/100

=400

(ii) CGST paid by the wholesaler to Governments.

= Output tax – Input Tax

= 20000 x 2.5 /100 -16000 x 2.5/100

=200 IGST to central government

(iii) the amount which the consumer pay for the article.

= SP + Tax

= 20000 + 20000 x5/100

=21000

(ML Aggarwal Solutions GST Exe-1 Questions for ICSE)

Question-15.  A shopkeeper in Delhi buys an article at the printed price of 24000 from a wholesaler in Mumbai. The shopkeeper sells the article to a consumer in Delhi at a profit of 15% on the basic cost price. If the rate of GST is 12%, find:

(i) the price inclusive of tax (under G5T) at which the shopkeeper bought the article.
(ii) the amount which the consumer pays for the article.
(iii) the amount of tax (under GST) received by the State Government of Delhi
(iv) the amount of tax (under GST) received by the Central Government.

Answer:

(i) The price inclusive of tax (under GST) at which the wholesaler bought the article.

CP of an article for shopkeeper = ₹24000

Rate of GST = 12%

IGST collected by wholesaler from shopkeeper = 12% of ₹24000

= (12/100) × 24000

= ₹2880

The price inclusive of tax (under GST) at which the wholesaler bought the article =

CP of article for shopkeeper + IGST paid by shopkeeper to wholesaler = ₹24000 + ₹2880

= ₹26880

(ii) The amount which the consumer pays for the article.

CP of an article for shopkeeper = ₹24000

Profit on CP of article = 15% of CP

SP of an article by the shopkeeper to consumer = CP + Profit

= ₹24000 + 15% of ₹24000

= ₹24000 + (15/100) × 24000

= ₹24000 + 3600

= ₹27600

The amount which the consumer pays for the article = CP of article for consumer + CGST paid by the consumer + SGST paid by consumer =

₹27600 + 6% of ₹27600 + 6% of ₹27600 =

₹27600 + (6/100) × ₹27600 + (6/100) × ₹27600 = ₹27600 + ₹1656 + ₹1656

= ₹30912

(iii) The amount of tax (under GST) received by the State Government of Delhi.

Amount of IGST for shopkeeper = ₹2880

SP of an article to consumer = CP of article for shopkeeper + profit on basic CP

= ₹24000 + 15% of ₹24000

= ₹24000 + (15/100) × ₹24000

= ₹24000 + ₹3600

= ₹27600

As the shopkeeper sells an article to consumer in Delhi; so this sales is Intra-state sales.

Amount of GST collected by shopkeeper from consumer,

CGST = SGST = 6% of ₹27600

= (6/100) × ₹27600

= ₹1656

Amount of tax paid by shopkeeper to state govt. = ₹2880 – ₹1656 = ₹1224

The amount of tax (under GST) received by the State Government of Delhi =

₹1656 – ₹1224 = ₹432

(iv) The amount of tax (under GST) received by the Central Government.

The amount of tax (under GST) received by the Central Government = IGST received from wholesaler + CGST received from shopkeeper = ₹ 2880 + NIL = ₹ 2880

(ML Aggarwal Solutions GST Exe-1 Questions for ICSE)

Question-16. A dealer in Maharashtra buys an article from a wholesaler in Maharashtra at a discount of 25%, the printed price of the article being * 20000. He sells the article to a consumer in Telengana at a discount of 10%, on the printed price. If the rate of GST is 12%,, find:

(i) the tax (under GST) paid by the wholesaler to Governments.
(ii) the tax (under GST) paid by the dealer to the Government
(iii) the amount which the consumer pays for the article.

Answer:

(i) the tax (under GST) paid by the wholesaler to Governments.

SGST paid by the wholesaler to Governments.

= 15000 x 6/100

=900 to Maharastra Govt

CGST paid by the wholesaler to Governments.

= 15000 x 6/100

=900 to Maharastra Govt

(ii) the tax (under GST) paid by the dealer to the Government

Now sells are inter state hence all tax to central govt

CGST = Output – Input

= 18000 x 12/100 – 15000 x 12/100

= 360 IGST to central Govt

(iii) the amount which the consumer pays for the article.

= SP of dealer + Tax

=18000 + 18000 x 12/100

=18000+ 2160

= 20160

(ML Aggarwal Solutions GST Exe-1 Questions for ICSE)

Question-17. Kiran purchases an article for * 5310 which includes 10% rebate on the marked price and 18% tax (under GST) on the remaining price. Find the marked price of the article.

Answer:

Rate of GST = 18%

CP of an article = x – 10% of x

= x – (10/100)x

= 90x/100

= 9x/10

Amount of GST on CP of article = 18% of 9x/10

= (18/100) × 9x/10

Total CP of article = 9x/10 + [(18/100) × 9x/10] – 9x/10(1 + 18/100) – (118/100) × 9x/10

It is given that, CP of an article including tax = ₹5310

So,

(118/100) × 9x/10 = 5310

x = 5310 × (100/118) × (10/9)

= 5000

The required marked price of an article is ₹5000

(ML Aggarwal Solutions GST Exe-1 Questions for ICSE)

Question-18. A shopkeeper buys an article whose list price is 8000 at some rate of discount from a wholesaler. He sells the article to a consumer at the list price. The sales are intra-state and the rate of GST is 18%. If the shopkeeper pay a tax (under GST) of 72 to the State Government, find the rate of discount at which he bought the article from the wholesaler.

Answer:

List of price of an article = ₹8000

Let the rate of discount given by wholesaler = x%

So,

Discount = x% of ₹8000

= (x/100) × ₹8000

= ₹80x

CP of an article for shopkeeper = ₹8000 – ₹80x

It is given that, CP of article for consumer = ₹8000

Since the sales are intra-state, rate of GST = 18%

CGST = SGST = 9%

Amount of GST paid by shopkeeper to wholesaler,

SGST = CGST = 9% of [₹8000 – ₹80x]

= (9/100) × [₹8000 – ₹80x]

Amount of GST paid by consumer to shopkeeper,

CGST = SGST = 9% of ₹8000

= (9/100) × ₹8000

= ₹720

So, the tax paid by shopkeeper to state government = ₹720 – (9/100) × [₹8000 – ₹80x]

Also, tax paid by shopkeeper to state government = ₹72

₹72 – 720 – (9×80) (100 – x) / (100)

720 – 72 = (720/100) (100 – x)

648 = (72/10) (100 – x)

100 – x = (648×10)/72

100 – x = 90

x = 100 – 90

= 10

So rate of discount = 10%

— : End of ML Aggarwal Solutions GST Exe-1 Questions for ICSE Class 10 Ch-1 :–

Return to :- ML Aggarwal Solutions for ICSE Class-10

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