Brokerage & GST

Q.

A wholesaler buys a TV from the manufacturer for Rs 25, 000. He marks the price of the TV $20\%$ above his cost price and sells it to a retailer at a $10\%$ discount on the marked price. If the rate of VAT is $8\%$, find the :
(i) Marked price
(ii) Retailer's cost price inclusive of tax
(iii) VAT paid by the wholesaler.
[3 MARKS]

Q.

Brokerage is always calculated on ___ value of shares.

Q. Goods/services are sold from Agra (U.P.) to Kanpur (U.P.) for Rs.20000 and then from Kanpur to Jaipur (Rajasthan). If the rate of GST is 18% and the profit made at Kanpur is Rs.5000, find:
(i) The net GST payable by the dealer at Kanpur.
(ii) The cost of goods/services at Jaipur.

Q. A colour TV is marked for sale for Rs 17, 600 which includes sales tax at $10\%$. Calculated the sales tax in rupees. [3 MARKS]

Q.

Divya and Dev jointly started a food cart business by investing Rs. 20, 000 and Rs. 40, 000. After 5 months Divya invested Rs. 10, 000 more in the business but Dev withdrew Rs. 20, 000. At the end of the year, if the profit of the business is Rs. 1, 30, 000, what is the profit earned by Divya?

1. Rs. 54, 000

2. Rs. 51, 000

3. Rs. 64, 000

4. Rs. 56, 000

Q. Chandi buys the following items from a departmental store :
Cosmetics worth Rs 230; Medicines worth Rs 140; Bakery products worth Rs 153 and stationery worth Rs 160. If the sales tax is charged at the rate of 10% on cosmetics, 7% on medicines, 5% on stationery and the bakery products are exempted from sales tax. Find the total amount paid by Chandni.
[4 MARKS]

Q.

The price of a TV set including 8% sales tax is Rs 16, 200. When the rate of sales tax was increased the customer had to pay Rs 300 more. Find the new rate of sales tax.

1. 10%

2. 15%

3. 5%

4. 8%

Q. The printed price of an article is Rs 60, 000. The wholesaler allows a discount of $20\%$ to the shopkeeper. The shopkeeper sells the article to the customer at the printed price. Sales tax (under VAT) is charged at the rate of $6\%$ at every stage. Find :
(i) The cost to the shopkeeper inclusive of tax.
(ii) VAT paid by the shopkeeper to the Government.
(iii) The cost to the customer inclusive of tax
[3 MARKS]

Q. a) Gopal purchases a scooter costing Rs 32, 450. If the rate of sales tax is 9%, calculate the total amount payable by him.

b) Rajeev purchased a motorcycle which was quoted at Rs 23, 500. The shopkeeper charged sales tax at the rate of 10%. The shopkeeper also charges 2% extra central sales tax. Find the amount he had to pay for the motorcycle. ?

[6 MARKS]

Q.

Question 78(ii)

Harshna gave her car for service at service station on 27-05-2009 and was charged as follows
Rs. 1105.12 for all other services and VAT @ 12.5%.
Find the bill amount.

Q. Smt. Kulkarni sold shares of face value $₹10$ when the market value was $₹60$ and received $₹59858.40$. She paid brokerage $0.2\%$ and GST on brokerage $18\%$, then how many shares did she sell ?

1. 100
2. 1000
3. 500
4. 990

Q. Question 9. Shri. Batliwala sold shares of ₹ 30, 350 and purchased shares of ₹ 69, 650 in a day. He paid brokerage at the rate of $0.1\%$ on sale and purchase. $18\%$ GST was charged on brokerage. Find his total expenditure on brokerage and tax.

Q.

Question 105

Fill in the blank to make the statement true.
The distance between Srinagar and Leh is 422 km. The same distance in metres is .............

Q.

A purchases an article for Rs. 3, 100 and sells it to B for Rs. 4250. B in turn sells it to C for Rs. 5000. If VAT is 10%, find the VAT levied on A and B.

1. Rs. 116, Rs. 82 respectively

2. Rs.115, Rs. 85 respectively

3. Rs.115, Rs. 75 respectively

4. Rs. 136, Rs. 75 respectively

Q. Radha invested $₹6030$ in the shares of FV $₹40$ and MV $₹50$. She got a $10\%$ dividend on them and sold the shares at a MV of $₹40$. She paid $0.5\%$ brokerage at each stage of the transactions. The total gain or loss in this transaction was ₹_____.

1. 480
2. 1, 254
3. 1, 300
4. 774

Q.

Sachin buys a rectangular plot at Koramangla Bangalore. The length and breadth of the plot are in the ratio 11:4. The perimeter of the plot is 60 m. What are the dimensions of the plot? [3 MARKS]

Q.

A Retailer sells Television at Rs 25, 000 to the shopkeeper and charges 10% tax. If the retailer pays a VAT of Rs 200 to the government, find the price inclusive of tax at which Retailer bought the T.V. from the wholesaler.

1. Rs 25800

2. Rs 25300

3. Rs 24800

4. Rs 25600

Q. Bashirkhan purchased 100 shares of MV ₹ 40. Brokerage paid at the​ rate of 0.5% and rate of GST on brokerage is 18%. Find the total amount​ he paid for the share purchase.

Q. The brokerage being charged on shares is 1%. There is GST being levied on the brokerage. If the MV of the share is ₹80 per share, and the number of shares being bought is twice the MV of each share, find the total amount being paid for the shares.

1. ₹12517.56
2. ₹13457.71
3. ₹12884.6
4. ₹12951.04

Q. Rahul purchased 80 shares of FV ₹60 at a premium of ₹20. If the company is paying 15% dividend, then the rate of return on investment is:

1. 12.25%
2. 10.25%
3. 10.75%
4. 11.25%

Q. Kamal had 150 shares of FV ₹120 and MV ₹150. Let the rate charged by broker = 2%. How much total amount did he get in selling these shares?

1. ₹18840
2. ₹22050
3. ₹22750
4. ₹21500

Q. Amar purchased 150 shares of FV ₹120 and MV ₹150. Let the rate charged by broker = 2.5%. How much total amount did he pay to buy these shares?

1. ₹22982.75
2. ₹23062.5
3. ₹23224.25
4. ₹23542.75

Q.

The cost of an article is Rs 6000 to a distributor. If he sells it to a trader for Rs 7500. The trader sells it to a customer for Rs 8000. If the VAT rate is 12.5%; find the VAT paid by the:

i) distributor ii) trader

1. Rs 287.50, Rs 62.50

2. Rs 187.50, Rs 50.50

3. Rs 287.50, Rs 50.50

4. Rs 187.50, Rs 62.50

Q.

Tushar purchased $50$ shares of Market value ₹$500$. Brokerage is paid at the rate of $1.5\%$ and the rate of GST on the brokerage is $18\%$. Find the total amount paid by Tushar for the shares he purchased.

1. ₹$25500$
2. ₹$25442.5$
3. ₹$25000$
4. ₹$26442.5$

Q. A troder from surat, Gujarat sold cotton clothes to a trader in Rajkot, Gujarat. The taxable value of cotton clothes is Rs $2.5$ locus. What is the amount of GST at $5\%$ paid by the trader in Rajkot ?

Q. The profit earned on shares was ₹4000 which was 10% of the total selling price of the shares. If the brokerage charged on the SP was 2.5%, find the GST on total brokerage at 18%.

1. ₹90
2. ₹360
3. ₹180
4. ₹240

Q.

The cost of generator without GST (Goods and Service Tax) is $₹96000$. If GST is levied at $20\%$, what will the cost of the generator then?

Q. Ritika has paid ₹14500 for buying 100 shares and paid ₹1500 as brokerage. What is the GST that is paid on the brokerage?

1. ₹90
2. ₹180
3. ₹270
4. ₹135

Q. The manufacturer Ms. Bhavna Saini produces a commodity for Rs 250, which she sells in the same state, where Ms. Bhavna Saini has her factory, 'Ms Shivangi Malik' the sale distributor, 'Ms. Shivika Jain' the wholesaler and 'Ms Lavanya' the retailer lives. The tax rate is 10%. The profit is Rs 20 at each stage of the selling chain. Find the amount of VAT and also the selling price of Ms. Lavanya.

Q. Mr. Ajay Joshi sold shares of face value $₹20$ when the market value was $₹80$ and received $₹796.224$. He paid brokerage $0.4\%$ and GST on brokerage $18\%$, then how many shares did he sell? [2 marks]