FRANK Solutions for Class 10 Maths Chapter 2 - Sales Tax and Value Added Tax

Chapter 2 - Sales Tax and Value Added Tax Exercise Ex. 2.1

Question 1

Solution 1

Question 2

The price of a T.V. set inclusive of sales tax at the rate of 14% is Rs 30,552. Find the basic price of the T.V. set.

Solution 2

Question 3

The price of a pair of Nike shoes including sales tax at the rate of 7% is Rs 1,572.90. Find the basic price of the shoes.

Solution 3

Question 4

The price of a scooter including sales tax at the rate of 11% is Rs 37,462.50. Find the basic price of the scooter.

Solution 4

Question 5

Laxman went to a shop to buy a fan costing Rs 750. The rate of sales tax is 6%. He requests the shopkeeper to reduce the price to such an extent that he has to pay only Rs 742 including the sales tax. Find the reduction needed in the price of the fan.

Solution 5

Question 6

Nirmala went to a shop to buy a Titan watch. The cost of the watch was Rs 3,250. The rate of sales tax is 12%. The shopkeeper gave her a discount such that she got the watch for only Rs 3,248. Find the discount given by the shopkeeper.

Solution 6

Question 7

Anurag went to a shop to buy a leather coat costing Rs 2,654. The sales tax on it is 9%. He requested the shopkeeper to reduce the price to such an extent that he has to pay only Rs 2,616 including the sales tax. Find the reduction given by the shopkeeper.

Solution 7

Question 8

Shalini bought an electric washing machine for Rs 24,556.50 which included 15% rebate on the basic price and then 7% sales tax on the remaining price. Find the basic price of the washing Machine.

Solution 8

Question 9

Anand bought an Almirah for Rs 5,135.70 which included 15% rebate on the basic price and then 6% sales tax on the remaining price. Find the basic price of the almirah.

Solution 9

Question 10

Alex bought a game boy for Rs 4,784 which included a rebate of 20% and a sales tax of 15%. Find the basic price of the game boy.

Solution 10

Question 11

Mr Sharma purchased a motorcycle for Rs 22,982.40 which included two successive discounts of 20% and 5% respectively on the basic price and then 8% sales tax on the remaining price. Find the basic price of the motorcycle.

Solution 11

Question 12

Solution 12

Question 13

A computer was available for Rs 27,216, which included two successive discounts of 20% and 10% on the basic price and a sales tax of 8% on the remaining price. Find the basic price of the computer.

Solution 13

Question 14

A refrigerator was available for Rs 36,842.96, which included three successive discounts of 20%, 15% and 10% on the list price and a sales tax of 7.5% on the remainder. Find the list price of the refrigerator.

Solution 14

Question 15

A Golf set was available for Rs 36,408.96, which included three successive discounts of 16%, 14% and 10% on the marked price and a sales tax of 12%. Find the marked price of the golf set.

Solution 15

Question 16

An increase of 4% on the sales tax of an article led to an increase of Rs 480 on the selling price of the article. Find the marked price of the article.

Solution 16

Question 17

Rupesh wanted to buy an air-conditioner. He bought it when the sales tax on it had just increased by 6%. As a result Rupesh had to pay Rs 1,920 more. Find the marked price of the air-conditioner.

Solution 17

Question 18

The government seeing the necessity of computers in daily life reduced sales tax on it by 8%. As a result, computers are now cheaper by Rs 2,240. Find the marked price of the computers.

Solution 18

Question 19

Reduction of 5% on the sales tax of scooters reduced its selling price by Rs 2,200. Find the marked price of the scooter.

Solution 19

Question 20

A shopkeeper marks the price of a dress material 10% above his cost price and levies a sales tax of 8% on it. If a customer has to pay Rs 2,970 for the dress material, find the cost price of the dress material.

Solution 20

Question 21

An electronic showroom increased the marked price of a new gadget by 12% and charged 12% sales tax on the new price. If the selling price of the gadget is now Rs 21,952, find the marked price of the gadget before increase.

Solution 21

Question 22

Due to a seasonal change the dealer increased the marked price of his goods by 20%. Sales tax of 5% was charged on the new price. The selling price of the goods was now Rs 6,048. Find the original marked price.

Solution 22

Question 23

Find the amount paid by Rajesh to buy a leather bag whose list price is Rs 4,850 and the rate of sales tax is 12%.

Solution 23

Question 24

A shopkeeper marked the list price of a mobile phone 16% above his cost price. Sales tax on the mobile was charged at 12%. Rahul paid Rs 29,232 for the mobile. Find the cost price of the mobile.

Solution 24

Question 25

A shopkeeper buys a watch for Rs 2,500 and marks up its price. A customer buys the watch for Rs 3,300 which includes a sales tax of 10% on the marked up price. Find the mark-up percentage on the price of the watch. Also, find his profit percentage.

Solution 25

Question 26

A retailer buys an article at a discount of 20% on the listed price from a wholesaler. The shopkeeper marks up the price by 10% on the listed price. A buyer pays Rs 231 to get it after paying a sales tax at the rate of 5% on the price asked for. Find the profit percentage.

Solution 26

Question 27

A watch is listed at Rs 15,500 and the sales tax on it is 18%. Find the selling price of the watch.

Solution 27

Question 28

Find the selling price of an electronic washing machine priced at Rs 24,600 and carrying a sales tax of 15%.

Solution 28

Question 29

The list price of a chair is Rs 7,500 and the sales tax on it is Rs 1,125. Find the rate of sales tax.

Solution 29

Question 30

A Samsung plasma T.V. is priced in the showroom at Rs 68,000. The sales tax on it is Rs 14,960. Find the rate of sales tax.

Solution 30

Question 31

The marked price of an article is Rs 17,840 and the sales tax on it is Rs 2,230. Find the rate of sales tax.

Solution 31

Question 32

The total cost of a refrigerator including sales tax is Rs 30,940.If the rate of sales tax is 12%, find the basic price of the refrigerator.

Solution 32

Chapter 2 - Sales Tax and Value Added Tax Exercise Ex. 2.2

Question 1

An electronics manufacturer sells an LCD to the dealer for Rs 25,000. The dealer sells it to the retailer at Rs 32,000 and the retailer sells it to the customer at Rs 45,000. If tax is levied at each stage at the rate of 10%, find the tax paid by the manufacturer, dealer and the retailer.

Solution 1

Question 2

In a financial year, the HDFC company purchased floor tiles worth Rs 12,00,000 taxable at 7.5%, sanitary fittings worth Rs 15,00,000 taxable at 10% and glass worth Rs 16,00,000 taxable at 6%. In the same period, the company sold floor tiles worth Rs 28,00,000, sanitary fittings worth Rs 36,00,000 and glass worth Rs 15,00,000. Due to manufacturing defects, floor tiles worth Rs 2,00,000 and glass worth Rs 1,50,000 were returned by the company. Calculate the tax liability of the company for this period.

Solution 2

Question 3

A manufacturer sells a microwave with a marked price of Rs 11,000 to the distributor for Rs 7,500. The distributor sells it to the retailer at a profit of Rs 1,500. The retailer sells to the customer at the marked price. If tax is charged at 8%, find the VAT paid by the retailer and the price paid by the customer.

Solution 3

Question 4

Trader A buys a washing machine from the manufacturer for Rs 12,500. He sells it to trader B at a profit of Rs 1,500. Trader B sells it to the customer at a profit of Rs 1,000. If the rate of tax is 8%, find the amount of tax received by the government and the total amount paid by the customer for the machine.

Solution 4

Question 5

In a particular tax period A to Z Emporium purchased Silk Sarees worth Rs 5,00,000 taxable at 12%, Cotton Sarees worth Rs 8,00,000 taxable at 5% and Handloom Sarees worth Rs 3,00,000 exempted from tax. In the same tax period it sold Silk Sarees worth Rs 12,00,000 , Cotton Sarees worth 16,00,000 and Handloom Sarees worth Rs 7,00,000. Silk Sarees worth Rs 40,000 were returned due to manufacturing defect and Cotton Sarees worth Rs 60,000 were returned due to loss of colour. Calculate the tax paid by the firm for this period.

Solution 5

Question 6

Mr. Gupta is a manufacturer. He sells a machine to a trader A for Rs 25,000. Trader A sold it to B at a profit of Rs 3,500 and B sold it to C at a profit of Rs 2,500. If VAT is calculated at 8%, find the amount of tax paid to the government. Also, find the price paid by the customer for the machine.

Solution 6

Question 7

A manufacturer sells a product to a trader A for Rs 15,000. Trader A sold it to trader B at a profit of Rs 2,000 and trader B sold it to trader C at a profit of Rs 1,500. Trader C made a profit of Rs 2,500 when he sold it to a customer. If VAT is calculated at 5%, find the amount of tax paid to the government. Also, find the price paid by the customer for the machine.

Solution 7

Question 8

The cost of manufacturing a motorcycle for the Hero Honda company is Rs 30,000. The company sells its motorcycle to its distributors. The distributor sells it to a retailer who then sells it to a customer. If the profit made by each of them is Rs 5,000 and VAT is levied at 12%, find the total tax paid to the government and the amount paid by the customer for the motorcycle.

Solution 8

Question 9

In a particular tax period, a trader purchased goods worth Rs 15,00,000 and paid a VAT of Rs 1,35,000. During the same period, he sold goods worth Rs 8,00,000 taxed at 12% and goods worth Rs 12,00,000 taxed at 5%. Calculate his tax liability for this period.

Solution 9

Question 10

In a particular tax period, a jewellery store purchased diamonds worth Rs 20,00,000 taxable at 15%, gold worth Rs 50,00,000 taxable at 12% and silver worth Rs 12,00,000 taxable at 8%. In the same period, the company sold diamonds worth Rs 34,00,000, gold jewellery worth Rs 86,00,000 and silver artifacts worth Rs 15,00,000. Calculate the tax liability of the company for this period.

Solution 10