Skip to main content

ICSE Solutions for Class 10 Mathematics – Sales Tax and Value Added Tax

ICSE Solutions for Class 10 Mathematics – Sales Tax and Value Added Tax

ICSE Solutions for Class 10 Mathematics – Sales Tax and Value Added Tax


Formulae

 
The amount of money paid by a customer for an article = The sale price of the article + Sales Tax on it, if any.
VAT (Value Added Tax):
1. Unlike sales tax, VAT is also collected by the state government.
2. It is not in addition to the existing Sales Tax, but is the replacement of Sales Tax. Presently, a majority of state governments have accepted the VAT system.
3. It is tax on the value added at each transfer of goods, from the original manufacturer to the retailer.
Assuming that the rate of tax is 10% and a trader purchases an article for Rs. 800, the tax he pays = 10% Rs. 800 = Rs. 80.
Now, if he sells the same article for Rs. 1,150.
The tax he recovers (gets) = 10% of Rs. 1,150 = 115
∴ VAT = Tax recovered on the sale – Tax he paid on the purchase
= Rs. 115 – Rs. 80 = 35.
4. The difference of tax recovered on the sale value and paid on the purchase value is deposited with the government as VAT.

Formulae Based Questions

Question 1. Sheela bought a V.C.R., at the list price of Rs. 13,500. If the rate of sale tax was 8%. Find the amount she had to pay for it.
 
 
Question 2. Rani purchases a pair of shoe whose sale price is Rs. 175. If she pays sales tax at the rate of 7%, how much amount does she pay as sales tax? Also find the net values of the pair of shoe.
 
Question 3. Sunita purchases a bicycle for Rs. 660. She has paid a sale tax of 10%. Find the list price of the bicycle.
 
Question 4. The price of a washing machine, inclusive of sales tax i, Rs. 13,530. If the sales tax is 10% find its list (or basic) price.
 
Question 5. Savita purchased an almirah for Rs. 4536 including sale tax. If the list price of the almirah is Rs. 4,200, find the rate of sale tax charged.
 
 
Question 6. The sale price of a television, inclusive of sales tax is Rs. 13,500. If sales tax is charged at the rate of 8% of the list price, find the list price of the television.
 
Question 7. The price of a washing machine inclusive of sale tax is Rs. 13,530. If the sale tax is 10% find its basic price.
 
Question 8. A shopkeeper buys on article whose list price is Rs. 450 at some rate of discount from a wholesaler. He sells the article to a consumer at the list price and charges sales tax at the rate of 6%. If the shopkeeper has to pay a VAT of Rs. 2.70, find the rate of discount at which he bought the article from the wholesaler.
 
 

Concept Based Questions

Question 1. Samir bought the following articles from a departmental store:
 
 
Question 2. A shopkeeper bought a washing machine at a discount of 20% from a wholesaler, the printed price of the washing machine being Rs. 18,000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the rate of sales tax is 8%, find:
(i) the VAT paid by the shopkeeper.
(ii) the total amount that the consumer pays for the washing machine.
 
Question 3. Find the tax paid by (i) the manufacturer, (ii) the whole saler, (iii) the retailer, (iv) the customer. If the rate of sales tax be 10%.
 
 
Question 4. A shopkeeper sells an article at its marked price (Rs. 7,500) and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of Rs. 180; calculate the price (inclusive of tax) paid by the shopkeeper.
 

Comments

Post a Comment

Popular posts from this blog

ICSE Solutions for Class 9 Geography – Natural Regions of the World

ICSE Solutions for Class 9 Geography – Natural Regions of the World ICSE Solutions for Class 9 Geography – Natural Regions of the World Exercises I. Short Answer Questions. Question 1. Define the term ‘natural region’. Answer: A natural region refers to a part of Earth’s surface having a particular uniformity in physical and climatic elements. Question 2. Name any four natural regions of the world. Answer: Equatorial Region, Tropical Grasslands (Savanah), Tropical Monsoon type and Tropical Deserts. Question 3. Briefly state the importance of climate. Answer: Climate imparts an important effect on human life, as the life style, occupations, trade facilities all are deeply related to the climatic behaviour of a particular natural region. Climate has a remarkable impact on human efficiency too. Question 4. State the location of the Equatorial Region. Answer: It is found in Amazon basic, Congo basin and Indonesia etc. Question 5. What is the latitudinal extent of the Monsoon climate? Answe...
Post a Comment
Read more

Selina Concise Physics Class 10 ICSE Solutions Chapter 12 - Radioactivity

Selina Concise Physics Class 10 ICSE Solutions Radioactivity Selina ICSE Solutions for Class 10 Physics Chapter 12 Radioactivity Exercise 12(A) Solution 1. Three constituent of an atom are: Electrons: mass is 9.1 x 10-31 kg, charge is -1.6 x 10-19C Neutron: mass is 1.6749 x 10-27 kg, charge is zero. Protons: mass is 1.6726 x 10-27 kg, charge is +1.6 x 10-19 C Solution 2 . Atomic number – the number of protons in the nucleus is called atomic number. Mass number – the total number of nucleons in the nucleus is called mass number. Solution 3. The nucleus at the centre of atom, whose size is of the order of 10-15 m to 10-14 m. The size of a nucleus is 10-5 to 10-4 times the size of an atom. It consists of protons and neutrons. If Z is the atomic number and A is the mass number of an atom, then the atom contains Z number of electrons; Z number of protons and A – Z number of neutrons. The atom is specified by the symbol ZXA where X is the chemical symbol for the element. Solution 4....
Post a Comment
Read more

Selina Concise Physics Class 10 ICSE Solutions Chapter 4 - Refraction of Light at Plane Surfaces

Selina Concise Physics Class 10 ICSE Solutions Refraction of Light at Plane Surfaces Selina ICSE Solutions for Class 10 Physics Chapter 4 Refraction of Light at Plane Surfaces Exercise 4(A) Solution 1. The change in the direction of the path of light, when it passes from one transparent medium to another transparent medium, is called refraction of light . Solution 2.    Solution 3. The ray of light which is incident normally on a plane glass slab passes undeviated. That is such a ray suffers no bending at the surface because here the angle of incidence is 0°. Thus if angle of incidence ∠i = 0°, then the angle of refraction ∠r = 0°. And the angle of deviation of the ray will also be 0°. Solution 5. The refraction of light (or change in the direction of path of light in other medium) occurs because light travels with different speeds in different media. When a ray of light passes from one medium to another, its direction (except for ∠i = 0°) changes because of change in its spe...
Post a Comment
Read more