Profit and Loss Class 8 RS Aggarwal Exe-7D Goyal Brothers ICSE Maths Solutions Ch-7. We provide step by step Solutions of council prescribe textbook / publication to develop skill and confidence. Visit official Website CISCE for detail information about ICSE Board Class-8 Mathematics.
Profit and Loss Class 8 RS Aggarwal Exe-7D Goyal Brothers ICSE Maths Solutions Ch-7
| Board | ICSE |
| Publications | Goyal Brothers Prakashan |
| Subject | Maths |
| Class | 8th |
| writer | RS Aggarwal |
| Book Name | Foundation |
| Ch-7 | Profit and Loss Discount Tax |
| Exe-7D | GST Questions Solved |
| Edition | 2024-2025 |
GST Questions / Problems with and Solutions / Answer
The GST is a single tax policy. It can be calculated simply as other tax. Formula for GST is given , GST = Output tax – Input Tax
Type of GST in India
- CGST (Central Goods and Services Tax)
- SGST (State Goods and Services.
- IGST (Integrated Goods and Services Tax)
- UTGST (Union Territory Goods and Services Tax
Exercise- 7D
(Profit and Loss Class 8 RS Aggarwal Exe-7D Goyal Brothers ICSE Maths Solutions Ch-7)
Que-1: In an intrastate transaction, goods worth Rs16000 are bought. If the rate of GST is 5%. Find the amount of the bill.
Sol: GST Amount = Value of Goods × (GST Rate/100)GST
Amount = 16000 × (5/100)
= 16000 × 0.05 = ₹800
Total Bill Amount = Value of Goods + GST Amount
Total Bill Amount = 16000+800 = ₹16,800
Que-2: A customer buys a suitcase from a dealer at a discount of 8% on the marked price of Rs5000. If the rate of GST is 12%, calculate :
(i) the tax (GST) that the customer has to pay for the purchase.
(ii) the total amount that the customer has to pay for the suitcase.
Sol: (i) GST Amount = Discounted Price × (GST Rate/100)
GST Amount = 4600 × (12/100)
= 4600×0.12=₹552
Que-3: A dealer in Jaipur sells a monitor to a customer in Jaipur at Rs7200. If the rate of GST is 18%, find :
(i) IGST (ii) CGST (iii) SGST (iv) the amount paid by the customer for the monitor.
Sol: (i) In an intrastate transaction (where both the seller and buyer are in the same state, such as in Jaipur), the GST is split into two components: Central GST (CGST) and State GST (SGST). The Integrated GST (IGST) is applicable only in interstate transactions.
Since this is an intrastate transaction, IGST will not be applicable, and the GST will be equally divided between CGST and SGST.
(ii) CGST Amount = Price of Monitor × (CGST Rate/100)
CGST Amount = 7200 × (9/100)
= 7200×0.09 = ₹648
(iii) SGST Amount = Price of Monitor × (SGST Rate/100)
SGST Amount = 7200 × (9/100)
= 7200×0.09 = ₹648.
(iv) Total GST Amount = CGST Amount + SGST Amount
= 648 + 648 = ₹1296
Total Amount Paid by the Customer = Price of Monitor + Total GST Amount
Total Amount Paid by the Customer
= 7200 + 1296 = ₹8,496
Que-4: In an interstate transaction, goods worth Rs42000 are bought at 25% discount. If the rate of GST is 12%, find :
(i) IGST (ii) the amount of the bill.
Sol: Discount = 25%
M.P = ₹42000
C.P = [(100-d%)/100] * M.P
C.P = [(100-25)/100] * 42000
C.P = 75 * 420
C.P = ₹31,500
(i) IGST = 12%
Total C.P = [(100+12)/100] * 31500
= 112 * 315
= ₹35,280
Total C.P = C.P + IGST
35280 = 31500 + IGST
IGST = 35280 – 31500
IGST = ₹3,780
(ii) IGST = 12%
Total C.P = [(100+12)/100] * 31500
= 112 * 315
= ₹35,280
Que-5: An AC mechanic in Mumbai charges repairing cost from three different customers in Mumbai as below :
If the rate of GST is 18%, find :
(i) IGST (ii) CGST (iii) SGST (iv) total amount of bill paid by each customer.
Sol: Repairing Cost: ₹3,000
Discount: 10%
GST Rate: 18%
Discount Amount = 3000 × (10/100)
= 3000×0.10 = ₹300
(ii) Customer I : CGST Amount = 2700 × (9/100)
= 2700×0.09 = ₹243
Customer II :
Customer III :
Que-6: A wholesaler in Agra (U.P.) bought goods from a dealer in Ranchi (Jharkhand). He bought :
(a) 50 rings, marked Rs4000 each, at a discount of 40%
(b) 40 necklaces, marked Rs2400 each, at a discount of 25%.
If the rate of GST on both the items is 18%, how much will the wholesaler at Agra pay to the dealer in Ranchi ?
Sol: (a) Rings:
The marked price of each ring is 4000 rupees, and the discount is 40%.
Discounted price of each ring = Marked price – (Discount % * Marked price)
Discounted price of each ring = 4000 – (0.4 * 4000)
Discounted price of each ring = 4000 – 1600
Discounted price of each ring = 2400 rupees
The wholesaler bought 50 rings, so the total cost of rings = Discounted price of each ring * Number of rings
Total cost of rings = 2400 * 50
Total cost of rings = 120000 rupees
(b) Necklaces:
The marked price of each necklace is 2400 rupees, and the discount is 25%.
Discounted price of each necklace = Marked price – (Discount % * Marked price)
Discounted price of each necklace = 2400 – (0.25 * 2400)
Discounted price of each necklace = 2400 – 600
Discounted price of each necklace = 1800 rupees
The wholesaler bought 40 necklaces, so the total cost of necklaces = Discounted price of each necklace * Number of necklaces
Total cost of necklaces = 1800 * 40
Total cost of necklaces = 72000 rupees
Now, let’s calculate the GST on the total cost of rings and necklaces:
GST = GST rate * (Total cost of rings + Total cost of necklaces)
GST = 0.18 * (120000 + 72000)
GST = 0.18 * 192000
GST = 34560 rupees
Finally, the amount the wholesaler in Agra will pay to the dealer in Ranchi is the total cost of rings and necklaces plus the GST:
Total amount = Total cost of rings + Total cost of necklaces + GST
Total amount = 120000 + 72000 + 34560
Total amount = 226560 rupees
— : Profit and Loss Class 8 RS Aggarwal Exe-7D Goyal Brothers ICSE Maths Solutions Ch-7:–
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