GST | MCQs

Explanation

Market price = x

Price after 5% increase = x + 0.05x = 1.05x

Sales tax = 12% of x = 0.12x

Total price paid by customer = 1.05x + 0.12x = 1.17x

Given that the total price paid is Rs. 4680:

1.17x = 4680

x = 4680 / 1.17

x = 4000

Explanation

To find the GST amount, multiply the cost of the milk powder by the GST percentage:

GST = 500 × 16/100

= 500 × 0.16

= 80

Explanation

To find the price without GST:

Let the original price be x.

The GST amount is 16.5% of x:

GST = 0.165x

The sales price (including GST) is:

4248 = x + 0.165x

4248 = 1.165x

Now, divide by 1.165:

x = 4248 / 1.165

x ≈ 3646.35

Explanation

To find the original price, we need to remove the GST amount from the inclusive price.

Price including GST = Rs. 945

GST percentage = 5%

First, convert the GST percentage to a decimal: 5% = 0.05

Then, divide the price including GST by (1 + GST decimal):

Rs. 945 ÷ (1 + 0.05) = Rs. 945 ÷ 1.05 = Rs. 900

Explanation

Price inclusive of GST = 6480

GST percentage = 8%

First, convert the GST percentage to a decimal:

8% = 0.08

Now, divide the price inclusive of GST by (1 + GST decimal):

6480 ÷ (1 + 0.08) = 6480 ÷ 1.08 = 6000

So, the original price of the bicycle is 6000.

Explanation

Marked price = Rs 20,000

GST = 12% of 20,000

= 0.12 × 20,000

= Rs 2,400

Total amount = Marked price + GST

= 20,000 + 2,400

= Rs 22,400

Explanation

• The first country to implement the GST (Goods and Services Tex) model was France in 1954.
• More than 140 countries have now adopted the GST model, which replaced other indirect taxes such as value-added tax (VAT), sales tax, service tax, and others.
• In India, the GST bill was passed by Finance Minister Arun Jaitley on July 1, 2017.

Explanation

Let the original cost of the TV = C

Cost of TV with 10% GST = $\frac{110}{100}$C

Given, Cost of TV with 10% GST = ₹ 8,800

$\Rightarrow$  $\frac{110}{100}$C =  8800

$\Rightarrow$  C = 8000

$\therefore$The original cost of the TV = ₹ 8,000

Explanation

Total cost of items = Rs. 25

Tax amount = 30 paise = Rs. 0.30

Tax rate = 6%

Let's find the cost of the taxable items:

Tax amount = 6% of taxable items

0.30 = (6/100) × taxable items

Taxable items = 0.30 × (100/6) = Rs. 5

Now, let's find the cost of the tax-free items:

Cost of tax-free items = Total cost - Taxable items - Tax amount

= 25 - 5 - 0.30

= Rs. 19.70