Sales Tax and VAT

Q.

A man sells an article at a profit of $25\%$ if he had bought it $20\%$ less and sold it for $₹10.50$ less, he would have gained $30\%$ find the cost price of the article.

Q.

Value added tax is the tax added to the marked price of an item that is being sold.

1. True

2. False

Q.

A retailer buys an article from the wholesaler at ₹80 and the wholesaler charges a sales tax at the prescribed rate of 8% upon it. The retailer fixes the price at ₹100 and charges sales tax at the same rate from the customers. Find the total Sales tax paid in the process.

1. ₹ 15.6

2. ₹ 16.4

3. ₹ 14.4

4. ₹ 16

Q.

A shopkeeper sells an article at its marked price of ₹ 7500 and charges sales-tax at the rate of 12% from the customer.

If the shopkeeper pays a VAT of ₹ 180, calculate the price inclusive of tax paid by the shopkeeper.

1. ₹ 6720

2. ₹ 6790

3. ₹ 7120

4. ₹ 6520

Q.

Mohan sells an article for ₹450 at a gain of 20%. Find its cost price.

1. Rs 3120

2. Rs 3300

3. Rs 3595

4. Rs 3395

Q.

State whether the given statement is true or false:

The VAT is charged by the government and borne by a shopkeeper.

1. True

2. False

Q.

My friend bought me a gift. He had left the price tag intact, so I saw that the item cost him ₹ 200. The sales tax levied on the item was 5%. What was the total amount paid by him for the gift?

1. ₹ 200

2. ₹ 220

3. ₹ 210

4. ₹ 205

Q. Rahul bought a gift for his friend, Nitin. He had left the price tag intact, so, Nitin saw that the item cost him ₹ 200. The sales tax levied on the item was 5%. What was the total amount paid by Rahul for the gift?

1. ₹200
2. ₹220
3. ₹205
4. ₹210

Q.

What is Sales Tax? These days the prices include some other tax. What is it?

Q.

Question 26

___ is charged on the sale of an item by the government and is added to the bill amount.

Q.

Billy buys an article for ₹ 10000 and pays 7% tax. She sells the same article for ₹ 13000 and charges 9% tax. Find the VAT paid by her.

1. ₹ 500

2. ₹ 470

3. ₹ 450

4. ₹ 440

Q. Mr. Sharma purchased an article for ₹715 including tax. If the SP excluding tax is ₹ 650, find the tax %.

1. 15%
2. 10%
3. 12%
4. 20%

Q.

"VAT" means:

1. Value after tax

2. Value add on tax

3. Value against tax

4. Value added tax

Q.

State whether the statement is true (T) or false (F).

Additional expenses made after buying an article are included in the cost price and are known as Value Added Tax.

1. True
2. False

Q. Say true or false:

1. True
2. False

Q.

A product is updated with 20% VAT after a cost price of ₹ 500. Find the bill to be paid in ___ .

Q.

Today Sales Tax is replaced by something else whose acronym is?

__

Q.

Jayesh purchased a pair of shoes at ₹ 1850. Calculate the total amount paid for the shoes if the rate of Tax is 6%.

1. ₹ 2011

2. ₹ 1901

3. ₹ 1961

4. ₹ 2001

Q.

If the sales tax is Rs 30 on a sale price of Rs 600, find the rate of sales tax.

1. 15%

2. 5%

3. 10%

4. 20%

Q.

WHAT IS THE DIFFERENCE BETWEEN TAX &VAT

Q. VAT was introduced in ___________.

1. 1999
2. 2000
3. 2001
4. 2005

Q. Match the corresponding tax calculated with their respective percentages on the SP.

1. ₹660
2. ₹630
3. ₹682
4. ₹612

Q. A sales tax of 5% is levied on a computer costing Rs. 14000, what is the final cost?

1. Rs 14070
2. Rs 15400
3. Rs 14700
4. Rs 1330

Q.

What will be the cost of the product in ₹ after adding $10\%$ sales tax on ₹ 400? ___

Q.

A restaurant charges a VAT of ₹ 210 on a bill of ₹ 1500. Calculate the VAT percentage.

1. 4%

2. 11%

3. 12%

4. 14%

Q. How much will your 15% tip be if a customer at your restaurant has to pay a bill of Rs. 180?

1. Rs 23.25
2. Rs 86.75
3. Rs 36.75
4. Rs 27

Q. Assuming that the sales tax is 6%, how much sales tax would you pay on a Rs. 500 purchase?

1. Rs. 45
2. Rs. 65
3. Rs. 30
4. Rs.10

Q.

Dinesh bought an article for ₹ 374, which included a discount of $15\%$ on the marked price and GST of $10\%$ on the reduced price. Find the marked price of the article.

1. ₹ 500

2. ₹350

3. ₹ 400

4. ₹ 450

Q. By what per cent is ₹2, 000 less than ₹2, 400? Is it the same as the per cent by which ₹2400 is more than ₹ 2, 000?​

Q. A tradesman marks his goods at such a price that after allowing a discount of 15%, he makes a profit of 20%. What is the marked price of an article whose cost price is Rs. 170?