3. A dealer buys an article for < 0,000
charged at 18%. Find the (1) total amount paid by the lo
(iii) output tax collected by the dealer and (iv) the net tax paid by the
4. The MRP of an article is 5,000. A dealer buys it at a discount of 20%. He sells it to a customer in
the same city at a discount of 5%. Find (i) the total amount paid by the customer and (ii) the
GST paid by the dealer to the government if GST is charged at 12%.
5. The MRP of an article is 20,000. A dealer buys it at a discount of 25% and sells it at a discount of
customer and (ii) the net GST paid by the dealer to the government.
8% to a customer in another state. If GST is charged at 18%, find (i) the total amount paid by the
18,000 and prints an MRP of 24,000 on them allowing 10%
by the buyer and (ii) the net GST paid
Answers
Step-by-step explanation:
answr
LOGIN
JOIN NOW
search
What would you like to ask?
8th
Maths
Comparing Quantities
Increase and Decrease in Percentage
An article was bought by a ...
MATHS
An article was bought by a distributor for Rs. 15,000 (excluding tax). He sold it to a trader for Rs. 20,000. The trader sold the article to a retailer for Rs. 22,000 (excluding tax). Find the VAT paid by the distributor and by the trader if the tax rate was 10 per cent.
MEDIUM
Share
Study later
ANSWER
(i) For the distributor:
Cost of the article = Rs. 15,000
Tax paid = 10% of Rs. 15,000
= Rs.
100
10×15,000
= Rs. 1,500
Selling price of the article = Rs. 20,000
Tax charged = 10% of Rs. 20,000
= Rs.
100
10×20,000
= Rs. 2,000
∴ VAT paid by distributor = Tax recovered on sale -Tax paid on purchase
= Rs. 2,000 - Rs. 1,500 = Rs. 500
VAT paid by distributor = Tax on (S.P. -C.P.)
= 10% of (Rs. 20,000 - Rs. 15,000)
=
100
10
×Rs. 5,000 = Rs. 500.
(ii) For the trader:
Cost of the article = Rs. 20,000 [∵ S.P. of distributor = C.P. of trader]
Tax paid = 10% of Rs. 20,000 = Rs. 2,000
Selling price of the article = Rs. 22,000
Tax charged = 10% of Rs. 22,000 = Rs.
100
10×22,000
= Rs. 2,200
∴ VAT paid by the trader = Tax recovered on sale -Tax paid on purchase
= Rs. 2,200 - Rs. 2,000 = Rs. 200.
Alternatively :
∴ VAT paid by the trader = Tax on (S.P. - C.P.)
= 10% of (Rs. 22,000 - Rs. 20,000)
=
100
10
×Rs. 2,000 = Rs. 200.