ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 1 Value Added Tax MCQS
ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 1 Value Added Tax MCQS
A retailer purchases a fan for ₹ 1200 from a wholesaler and sells it to a consumer at 15% profit. If the rate of sales tax (under VAT) at every stage is 8%, then choose the correct answer from the given four options for questions 1 to 5:
Question 1.
The selling price of the fan by the retailer (excluding tax) is
(a) ₹ 1200
(b) ₹ 1380
(c) ₹ 1490.40
(d) ₹ 11296
Solution:
Question 2.
VAT paid by the wholesaler is
(a) ₹ 96
(b) ₹ 14.40
(c) ₹ 110.40
(d) ₹ 180
Solution:
Question 3.
VAT paid by the retailer
(a) ₹ 180
(b) ₹ 110.40
(c) ₹ 96
(d) ₹ 14.40
Solution:
Question 4.
VAT collected by the Government on the sale of fan is
(a) ₹14.40
(b) ₹96
(c) ₹110.40
(d) ₹180
Solution:
Question 5.
The cost of the fan to the consumer inclusive of tax is
(a) ₹1296
(b) ₹1380
(c) ₹1310.40
(d) ₹1490.40
Solution:
A shopkeeper bought a TVfrom a distributor at a discount of 25% of the listed price of ₹ 32000. The shopkeeper sells the TV to a consumer at the listed price. If the sales tax (under VAT) is 6% at every stage, then choose the correct answer from the given four options for questions 6 to 8:
Question 6.
VAT paid by the distributor is
(a) ₹1920
(b) ₹1400
(c) ₹480
(d) ₹8000
Solution:
Question 7.
VAT paid by the shopkeeper is
(a) ₹480
(b) ₹1440
(c) ₹1920
(d) ₹8000
Solution:
Question 8.
The cost of the TV to the consumer inclusive of tax is
(a) ₹8000
(b) ₹32000
(c) ₹33920
(d) none of these
Solution:
A wholesaler buys a computer from a manufacturer for ₹ 40000. He marks the price of the computer 20% above his cost price and sells it to a retailer at a discount of 10% on the marked price. The retailer sells the computer to a consumer at the marked price. If the rate of sales tax (under VAT) is 10% at every stage, then choose the correct answer from the given four options for questions 9 to 15:
Question 9.
The marked price of the computer is
(a) ₹40000
(b) ₹48000
(c) ₹50000
(d) none of these
Solution:
Question 10.
Cost of the computer to the retailer (excluding tax) is
(a) ₹36000
(b) ₹40000
(c) ₹43200
(d) ₹47520
Solution:
Question 11.
Cost of the computer to the retailer inclusive of tax is
(a) ₹47520
(b) 43200
(c) 44000
(d) none of these
Solution:
Question 12.
VAT paid by the manufacturer is
(a) ₹4000
(b) ₹4320
(c) ₹320
(d) none of these
Solution:
Question 13.
VAT paid by the wholesaler is
(a) ₹4000
(b) ₹4320
(c) ₹320
(d) ₹480
Solution:
Question 14.
VAT paid by the retailer is
(a) ₹4000
(b) ₹4320
(c) ₹320
(d) ₹480
Solution:
Question 15.
Consumer’s cost price inclusive of VAT is
(a) ₹47520
(b) ₹48000
(c) ₹52800
(d) ₹44000
Solution:
