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15 questions · timed · auto-graded

MCQ 11 Mark
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
The marked price of the computer is
  • A
    ₹ 40000
  • ₹ 48000
  • C
    ₹ 50000
  • D
    none of these
Answer
Correct option: B.
₹ 48000
C.R of computer for manufacturer
$
=\text { ₹ } 40000
$
After marking $20 \%$ above the C.R, the price
$
\begin{aligned}
& =\text { ₹ }40000 \times \frac{100+20}{100} \\
& =\text { ₹ }40000 \times \frac{120}{100} \\
& =\text { ₹ } 48000 .
\end{aligned}
$
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MCQ 21 Mark
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 :
The cost of the TV to the consumer inclusive of tax is
  • A
    ₹ 8000
  • B
    ₹ 32000
  • ₹ 33920
  • D
    none of these
Answer
Correct option: C.
₹ 33920
Cost of T.V. to the consumer inclusive of VAT
= ₹32000 + 1920
= ₹33920.
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MCQ 31 Mark
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 :
VAT paid by the shopkeeper is
  • ₹ 480
  • B
    ₹ 1440
  • C
    ₹1920
  • D
    ₹ 8000
Answer
Correct option: A.
₹ 480
Total VAT charged by the shopkeeper
$
\begin{aligned}
& =\text { ₹ }32000 \times \frac{6}{100} \\
& =\text { ₹ } 1920
\end{aligned}
$
VAT already paid by distributor
$
=\text { ₹ } 1440
$
Net VAT paid by the shopkeeper
$
\begin{aligned}
& =\text { ₹ } 1920-\text { ₹ } 1440 \\
& =\text { ₹ } 480 .
\end{aligned}
$
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MCQ 41 Mark
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 :
VAT paid by the distributor is
  • A
    ₹ 1920
  • ₹ 1400
  • C
    ₹ 480
  • D
    ₹ 8000
Answer
Correct option: B.
₹ 1400
The list price of T.V. set $=\text { ₹ } 32000$
Discount $=25 \%$
Rate of VAT $=6 \%$
Sale price
$
\begin{aligned}
& =\text { ₹ } 32000 \times\left(\frac{100-25}{100}\right) \\
& =\text { ₹ } 32000 \times \frac{75}{100} \\
& =\text { ₹ } 24000
\end{aligned}
$
VAT paid by the distributor
$
\begin{aligned}
& =\text { ₹ } 24000 \times \frac{6}{100} \\
& =\text { ₹ }1440 .
\end{aligned}
$
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MCQ 51 Mark
A retailer purchases a fan for ₹ 1200 from a wholesaler and sells it to a consumer at a 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
The cost of the fan to the consumer inclusive of tax is
  • A
    ₹ 1296
  • B
    ₹ 1380
  • C
    ₹ 1310.40
  • ₹ 1490.40
Answer
Correct option: D.
₹ 1490.40
Cost of fan to the consumer inclusive tax
= ₹1380 + 110.40
= ₹ 1490.40.
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MCQ 61 Mark
A retailer purchases a fan for ₹ 1200 from a wholesaler and sells it to a consumer at a 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
VAT collected by the Government on the sale of the fan is
  • A
    ₹ 14.40
  • B
    ₹ 96
  • ₹ 110.40
  • D
    ₹ 180
Answer
Correct option: C.
₹ 110.40
VAT collected by the govt, on the sale of fan
$\begin{aligned} & =\text { ₹ } \frac{11040}{100} \\ & =\text { ₹ } 110.40 .\end{aligned}$
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MCQ 71 Mark
A retailer purchases a fan for $₹ 1200$ from a wholesaler and sells it to a consumer at a $15%$ profit. If the rate of sales tax (under VAT) at every stage is $8%$, then choose the correct answer from the given four options
VAT paid by the retailer
  • A
    $₹ 180$
  • B
    $₹ 110.40$
  • C
    $₹ 96$
  • $₹ 14.40$
Answer
Correct option: D.
$₹ 14.40$
$\text { VAT deducted by the retailer }=₹ \frac{1380 \times 8}{100} $
$ \text { VAT paid by wholesalers }=₹ 96 .$ 
$\text { Net VAT paid by his } =₹ 110.40-96.00  =₹ 14.40 .$
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MCQ 81 Mark
A retailer purchases a fan for ₹ 1200 from a wholesaler and sells it to a consumer at a 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
VAT paid by the wholesaler is
  • ₹ 96
  • B
    ₹ 14.40
  • C
    ₹ 110.40
  • D
    ₹ 180
Answer
Correct option: A.
₹ 96
Rate of VAT $=8 \%$
$\therefore$ VAT paid by wholesaler
$
\begin{aligned}
& =\text { ₹ }1200 \times \frac{8}{100} \\
& =\text { ₹ } 96 .
\end{aligned}
$
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MCQ 91 Mark
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
Consumer’s cost price inclusive of VAT is
  • A
    $₹ 47520$
  • B
    $₹ 48000$
  • $₹ 52800$
  • D
    $₹ 44000$
Answer
Correct option: C.
$₹ 52800$
Sale price to consumer
$
=\text { ₹ } 4800
$
VAT paid by the consumer
$
\begin{aligned}
& =\text { ₹ }48000 \times \frac{10}{100} \\
& =\text { ₹ }4800
\end{aligned}
$
Consumers cost price inclusive of VAT
$
\begin{aligned}
& =\text { ₹ } 48000+\text { ₹ } 4800 \\
& =\text { ₹ }52800 .
\end{aligned}
$
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MCQ 101 Mark
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
VAT paid by the retailer is
  • A
    ₹ 4000
  • B
    ₹ 4320
  • C
    ₹ 320
  • ₹ 480
Answer
Correct option: D.
₹ 480
VAT paid by retailer
$
\begin{aligned}
& =48000 \times \frac{10}{100} \\
& =\text { ₹ }4800
\end{aligned}
$
VAT already paid
$
=\text { ₹ }4320
$
Net VAT to be paid
$
\begin{aligned}
& =\text { ₹ } 4800-4320 \\
& =\text { ₹ } 480 .
\end{aligned}
$
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MCQ 111 Mark
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
VAT paid by the wholesaler is
  • A
    ₹ 4000
  • B
    ₹ 4320
  • ₹ 320
  • D
    ₹ 480
Answer
Correct option: C.
₹ 320
VAT paid by the wholesaler
$
\begin{aligned}
& =\text { ₹ } 43200 \times \frac{10}{100} \\
& =\text { ₹ } 4320
\end{aligned}
$
VAT already paid
$
=\text { ₹ }4000
$
Net VAT paid by
$
\begin{aligned}
& =\text { ₹ } 4320-\text { ₹ }4000 \\
& =\text { ₹ }320 .
\end{aligned}
$
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MCQ 121 Mark
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
VAT paid by the manufacturer isthese
  • ₹ 4000
  • B
    ₹ 4320
  • C
    ₹ 320
  • D
    none of these
Answer
Correct option: A.
₹ 4000
VAT paid by the manufacturer
$
\begin{aligned}
& =\text { ₹ } 40000 \times \frac{10}{100} \\
& =\text { ₹ } 4000 .
\end{aligned}
$
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MCQ 131 Mark
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
Cost of the computer to the retailer inclusive of tax is
  • ₹ 47520
  • B
    ₹ 43200
  • C
    ₹ 44000
  • D
    none of these
Answer
Correct option: A.
₹ 47520
Rate of sales $\operatorname{tax}($ VAT $)=10 \%$
Sales tax charged
$
\begin{aligned}
& =\text { ₹ }43200 \times \frac{10}{100} \\
& =\text { ₹ }4320
\end{aligned}
$
The cost price of T.V. including S.T.
$
\begin{aligned}
& =\text { ₹ } 43200+\text { ₹ }4320 \\
& =\text { ₹ }47520 .
\end{aligned}
$
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MCQ 141 Mark
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
Cost of the computer to the retailer (excluding tax) is
  • A
    ₹ 36000
  • B
    ₹ 40000
  • ₹ 43200
  • D
    ₹ 47520
Answer
Correct option: C.
₹ 43200
Rate of discount $=10 \%$
$\therefore$ Sales price after discount
$
\begin{aligned}
& =\text { ₹ } 48000 \times \frac{100-10}{100} \\
& =\text { ₹ } 48000 \times \frac{90}{100} \\
& =\text { ₹ }43200 .
\end{aligned}
$
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MCQ 151 Mark
A retailer purchases a fan for ₹ 1200 from a wholesaler and sells it to a consumer at a $15 \%$ profit. If the rate of sales tax (under VAT) at every stage is $8 \%$, then choose the correct answer from the given four options
The selling price of the fan by the retailer (excluding tax) is
  • A
    ₹ 1200
  • ₹ 1380
  • C
    ₹ 1490.4
  • D
    ₹ 11296
Answer
Correct option: B.
₹ 1380
Cost price of a fan $=\text { ₹ } 1200$
Profit $=15 \%$
$\therefore$ Sale price
$
\begin{aligned}
& =\frac{\text { C.P. } \times(100+\text { Profit } \%)}{100} \\
& =\text { ₹ } \frac{1200 \times(100+15)}{100} \\
& =\text { ₹ }\frac{1200 \times 115}{100} \\
& =\text { ₹ } 1380 .
\end{aligned}
$
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MCQ - Mathematics STD 10 Questions - Vidyadip