ML Aggarwal GST Chapter Test Class 10 ICSE Maths Solutions Chapter-1 Goods and service Tax . We Provide Step by Step Answer of Chapter Test Questions for GST Chapter as council prescribe guideline for upcoming board exam. . Visit official Website CISCE for detail information about ICSE Board Class-10.
ML Aggarwal GST Chapter Test Class 10 ICSE Maths Solutions
| Board | ICSE |
| Publications | Avichal Publishig Company (APC) |
| Subject | Maths |
| Class | 10th |
| Chapter-1 | Goods and Service Tax (GST) |
| writer | ML Aggarwal |
| Book Name | Understanding |
| Topics | Solution Chapter Test Questions |
| Edition | 2022-2023 |
ML Aggarwal GST Chapter Test Class 10 ICSE Maths Solutions
Question-1. A shopkeeper bought a washing machine at a discount of 20% from a wholesaler the printed price the washing machine being *15000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the sales are intra-state and the rate of GST is 12%, find:
(i) the price inclusive of tax (under GST) at which the shopkeeper bought the machine
(ii) the price which 1 the consumer pays for the machine.
(iii) the tax (under GST) paid by the wholesaler to the State Government
(iv) the tax (under GST) paid by the shopkeeper to the State Government
(v) the tax (under GST) received by the Central Government.
Answer -1
Printed Price of the washing machine = ₹18000
Discount rate = 20 %
Discount = (20/100) x ₹18000
= ₹3600
So, the selling price of the washing machine = ₹18000 – ₹3600 = ₹14400
The rate of GST = 12%
The taxes (under GST) for the purchase are
SGST = ₹14400 x (12/2)/100 = ₹864
CGST = ₹14400 x (12/2)/100 = ₹864
(i) Hence, the shopkeeper bought the machine at the price = ₹14400 + ₹864 + ₹864 = ₹16128
(iii) The tax (under GST) paid by wholesaler to State Government = ₹864
The machine is sold to a consumer at 10% discount of the List /printed Price
Discount = (10/100) x ₹18000
= ₹1800
So, the selling price for the shopkeeper = ₹18000 – ₹1800 = ₹16200
The taxes (under GST) for the purchase are
SGST = ₹16200 x (12/2)/100 = ₹972
CGST = ₹16200 x (12/2)/100 = ₹972
(ii) Thus, the consumer paid a price = ₹16200 + ₹972 + ₹972 = ₹18144
(iv) The tax (under GST) paid by shopkeeper to State Government = ₹972 – ₹864 = ₹108
(v) The tax (under GST) received by the central Govt = ₹972
Question-2 A manufacturer listed the price of his good at Rs 1600 per article He allowed a discount of 25% to a wholesaler who in turn allowed a discount of 20% on the listed price to a retailer The retailer sells one article to a at a discount of 5% on the listed Price. if all the sales are intra-state and the rate of GST is 5%, find;
(i) the price per article inclusive of tax (under GST) which the Wholesaler pays.
(ii) the price per article inclusive of tax (under GST) which the retailer pay
(iii) the amount which the consumer pays for the article.
(iv) the tax (under GST) paid by the whole to the State Government for the article
(v) the tax (under GST) paid by the retailer to the Central Government for the article,
(v) the tax (under GST) received by the State Government
Answer- 2
(i) The listed price per article = ₹1600
Discount rate from the manufacture = 25%
Discount = (25/100) x ₹1600 = ₹400
So, the selling price per article to the wholesaler = listed price – discount
= ₹1600 – ₹400
= ₹1200
The rate of GST = 5%
GST = 5% of ₹1200
= (5/100) x ₹1200
= ₹60
Thus, the price per article inclusive of tax (under GST) which the wholesaler pays = selling price of the manufacture + GST
= ₹1200 + ₹60
= ₹1260
(ii) The wholesaler resells at a discount of 20% on the listed price per article to the retailer
Discount = (20/100) x ₹1600
= ₹320
So, the selling price of the wholesaler = listed price – discount
= ₹1600 – ₹320
= ₹1280
The rate of GST = 5%
GST = 5% of ₹1280
= (5/100) x ₹1280
= ₹64
Thus, the price per article inclusive of tax (under GST) which the retailer pays = selling price of the wholesaler + GST
= ₹1280 + ₹64
= ₹1344
(iii) Further, the retailer resells at a discount of 5% on the listed per article to the consumer
Discount = (5/100) x ₹1600
= ₹80
So, the selling price of the wholesaler = listed price – discount
= ₹1600 – ₹80
= ₹1520
The rate of GST = 5%
GST = 5% of ₹1520
= (5/100) x ₹1520
= ₹76
Thus, the price per article inclusive of tax (under GST) which the consumer pays = selling price of the retailer + GST
= ₹1520 + ₹76
= ₹1596
(iv) The tax (under GST) paid by the wholesaler to the State Government for the article = ₹(64 – 62)/2
= ₹4/2
= 2
(v) The tax (under GST) paid by the retailer to the Central Government for the article = ₹ (76 – 84)/2
= ₹12/2
= ₹6
(vi) The tax (under GST) received by the State Government = ₹76/2 = ₹38
Question-3. Mukerjee purchased a movie camera for Rs 25488 which includes 10%rebate on the list price and 18% tax (under GST) on the remaining Price. Find the marked price of the camera.
Answer -3
Let the marked price of the camera = ₹100
Rebate of 10% = 10% discount = ₹10
Remaining (selling) price of the camera = ₹90
The rate of GST = 18%
So, tax (under GST) = 18% of ₹90 = ₹16.2
Total cost of the camera = Selling price + GST
= ₹90 + ₹16.2
= ₹106.20
Now,
Given purchase price = ₹25488
If purchase price is ₹106.20 then marked price is ₹100
So, if purchase price is ₹1 then marked price is ₹(100/ 106.20)
Thus, if purchase price is ₹25488 then marked price is
₹ {(100/106.20) x 25488} = ₹24000
Therefore, the marked price of the movie camera = ₹24000
Question-4. The Marked Price of an article is Rs 7500 A shopkeeper buys the article from a wholesaler at some discount and sells t to a consumer at the marked price. The sales are intra-state and the rate of GST is 12%. lf the shopkeeper pays Rs 90 as tax (under GST)to the State Government find;
(i) the amount of discount
(ii) the price inclusive of tax (under GST) of the article which the shopkeeper paid
to the wholesaler.
Answer -4
The marked price of the article = ₹7500
Let the discount be x%
Then, discount = (x/100) x ₹7500 = ₹75x
So, the selling price of the article from the wholesaler = ₹7500 – ₹75x
The rate of GST = 12%
The tax (under GST) paid by the shopkeeper to the State Government
= 6% of (₹7500 – ₹75x) … (i)
The shopkeeper resells the article at the marked price to a consumer
Then, the tax (under GST) paid by the shopkeeper to the State Government
= 6% of ₹7500 … (ii)
Hence, the net tax (under GST) paid by the shopkeeper to the State Government
= (ii) – (i)
= 6% of ₹75x
Given that the shopkeeper paid 90 as tax (under GST) to the State Government
So,
6% of ₹75x = ₹90
(6 × 75)x/100 = 90
x = (90 x 100)/(6 x 75)
x = 20
Thus, the discount is 20%
(i) Now, the amount of discount = 20% of 7500
= (20/100) x ₹7500
= ₹1500
(ii) The price inclusive of tax (under GST) of the article which the shopkeeper paid
to the wholesaler = (marked price – discount) + GST
GST = 12% of (marked price – discount)
= (12/100) x ₹(7500 – 1500)
= 0.12 x ₹6000
= ₹720
Therefore, the price inclusive of tax (under GST) of the article which the shopkeeper paid to the wholesaler = ₹6000 + ₹720 = ₹6720
Questiion-5. A retailer buys an article at a discount of 15% on the printed price front a wholesaler. He marks up the price by 10% on the printed price but due to competition in the mark. he allows a discount of 5% on the marked price to a buyer If the rate of GST is 12% and the buyer pays Rs. 468.16 for the article inclusive of tax (under GST). find
(i) the printed price of the article,
(ii) the profit Percentage of the retailer.
Answer -5
(i) the printed price of the article,= …..
Let the printed price of the article be ₹x
The retailer marks up the price by 10% on the printed price
So, the marked price by the retailer = ₹x + 10% of ₹x
= ₹x + ₹0.1x
= ₹1.1x
Due to competition the retailer allows discount of 5% on the marked price, then
The selling price of the article = ₹1.1x – discount
Discount = 5% of ₹1.1x
= ₹ (5/100) x 1.1x
= ₹0.055x
The rate of GST = 12%
The tax (under GST) for the purchase = 12% of the selling price set by the retailer
= 12% of ₹ (1.1x – 0.055x)
= ₹ (12/100) x (1.045x)
Thus, the price of the article inclusive of GST = ₹1.045x + ₹ (12/100) x (1.045x)
Given, buyer pays ₹468.16 for the article inclusive of tax (under GST)
So,
1.045x + (12/100) x (1.045x) = 468.16
1.045x + 0.1254x = 468.16
1.1704x = 468.16
x = 468.16/1.1704
x = ₹400
Therefore, the printed price of the article is ₹400
(ii) the profit Percentage of the retailer= ……
Buy at = 400 – 15% of ₹400 = ₹400 – ₹60 = ₹340
Sold at = (₹400 + 10% of ₹400) – 5% of (₹400 + 10% of ₹400)
= ₹(400 + 40) – [(5/100) x ₹400 + 40)]
= ₹440 – ₹ (0.05 x 440)
= ₹440 – ₹22
= ₹418
Therefore, profit = Selling price – cost price = ₹418 – ₹340 = ₹78
Therefore, the profit percentage =
(78/340) x 100 = 22.94%
— : End of ML Aggarwal GST Ch-Test Solutions :–
Return to :- ML Aggarwal Solutions for ICSE Class-10
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