Tax Calculation | MCQs

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 value-added tax (VAT), we need to calculate the tax paid and charged, then find the difference.

Step 1: Calculate the tax paid on purchase

Tax paid = 5% of Rs. 52900 = 0.05 * 52900 = Rs. 2645

Step 2: Calculate the tax charged on sale

Tax charged = 7% of Rs. 53500 = 0.07 * 53500 = Rs. 3745

Step 3: Calculate the value-added tax (VAT)

VAT = Tax charged - Tax paid = Rs. 3745 - Rs. 2645 = Rs. 1100

Explanation

To find the value-added tax (VAT), we need to calculate the tax paid on purchase and tax charged on sale, then find the difference.

Purchase price = Rs. 6890

Tax paid on purchase = 4% of 6890

= 0.04 × 6890

= Rs. 275.6

Sale price = Rs. 7900

Tax charged on sale = 6% of 7900

= 0.06 × 7900

= Rs. 474

Value-added tax (VAT) = Tax charged on sale - Tax paid on purchase

= 474 - 275.6

= Rs. 198.4

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

Let income be $x$.
10% of $x$ = 1500
10/10​0×x=1500
$x=\frac{1500\times 100}{10}<br>$

​=15000

Explanation

To calculate the exercise duty at a rate of 150% on an amount of Rs 3,00,000, you need to follow these steps:

Understand the Rate: The rate of 150% means you need to calculate 150% of Rs 3,00,000.

Convert the Percentage to a Decimal: 150% can be written as 1.5 in decimal form.

Multiply the Amount by the Rate:

Exercise Duty=Amount×Rate

Exercise Duty=3,00,000×1.5

Exercise Duty=4,50,000