Question

1. A dealer buys goods worth ₹ 7,500 and sells it at a profit of ₹10% within the same state. If GST is charged at 12% find the (i) selling price, (ii) CGST, (iii) The total amount paid by the customer.

Give the solution

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Answer 1

Given :-

• Cost price of goods = ₹ 7500
• Profit on selling goods = 10%
• GST charged at goods = 12 %

To Find :-

• (i) Selling price (under GST) = ?
• (ii) CGST ( on Selling price) = ?
• (iii) Amount paid by customer = ?

Solution :-

To solve this question at first we have to calculate the selling price of goods then calculate it's selling price which is under GST and CGST and Amount paid by customer. we can easily calculate it by applying formula.

Calculation begins :-

⇒ SP = ? CP = ₹ 7500. P = 10%

⇒ SP = (100 + G%/100) × CP

⇒ SP = (100 + 10/100) × 7500

⇒ SP = 110/100 × 7500

⇒ SP = 110 × 75

⇒ SP = ₹ 8250

Selling price under GST :-

⇒ SP = ₹ 8250 GST = 12%

⇒ SP = SP + SP × GST

⇒ SP = 8250 + 8250 × 12/100

⇒ SP = 8250 + 990

⇒ SP = ₹ 9240

CGST on Selling price :-

SP = 8250 CGST = ?

• We know CGST is calculated on the basis of GST. As we know that CSGT = 1/2 of GST . GST stand for goods service tax and CGST stand for Central Goods Service tax.

⇒ Cost Price on CGST :-

⇒ CGST = SP × (1/2 × GST)

⇒ CGST = 8250 * 6/100

⇒ CGST = ₹ 495

Amount paid by the customer :-

⇒ Selling price (under GST) + CGST

⇒ 9240 + 495

⇒ ₹ 9735

Answer 2

Answer:

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Given: -

• A dealer buys goods worth £7,500 and sells it at a profit of £10% with in the same state .

To prove :-

1. Selling price?
2. CGST ?
3. The total amount paid by the customer.

Explanation :-

• We know the formula that

Selling price = (100+goods%/100)×CP

• SP= (100+10/100)×7500
• SP= 110/100×7500
• SP= 110×75
• SP= £8250.

Now,

• Selling price at of GST.

we know that,

• CGST= SP+SP×GST
• CGST=8250+8250×12%
• CGST= 8250+990
• CGST= £9240.

Now CGST on selling price,

• CGST=SP×1/2×GST
• CGST= 8250×6/100
• CGST=£495.

At the last we should find the amount paid by the customer: -

• Here we should Selling price at GST and CGST on selling price

Therefore,

Amount paid by the customer

• = Selling price at GST +CGST on SP

• =9240+495
• =£9735.

Hope it helps u mate .

Thank you .

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