Tax

Q.

Define a tax. Explain briefly two merits and two demerits of direct taxes.

Q.

The price of a shirt is reduced by $12\%$ in a discount sale$.$ If its present price is $₹118.80$$,$ find its original price$.$

Q.

Kiran purchases an article for ₹ 5400 which includes 10 % rebate on the marked price and 20 % sales tax on the remaining price. Find the marked price of the article .

1. ₹ 4500

2. ₹ 5000

3. ₹ 5500

4. ₹ 4800

Q.

Jeanette purchased a concert ticket on a website. The original price of the ticket was $\$75$. She used a coupon code to receive a $20\%$ discount. The website applied a $10\%$ service fee to the discounted price. Jeanette’s ticket was less than the original price by what percent?

Q.

What are the different types of taxes?

1. Direct

2. Indirect

3. Income tax

4. Both A and B

Q.

An Example of a Direct Tax Is.

Q. An iron is worth ₹1000. If the GST rate is 12%, calculate the GST paid.

1. 100
2. 120
3. 80
4. 96

Q.

Kiran purchases an article for Rs.5, 400 which includes 10% rebate on marked price & 20% sales tax on remaining price. Find the marked price of the article.

1. Rs.10, 000

2. Rs. 3, 000

3. Rs.1, 250

4. Rs. 5, 000

5. Rs. 2, 500

Q. What are the two major forms of taxes?

1. Individual and corporate taxes
2. Direct and Indirect taxes
3. Goods and services taxes
4. None of these

Q. State any two advantages of indirect taxes.

Q.

Dinesh brought an article for Rs.374, which included a discount of 15% on the marked price and a sales tax of 10% on the reduced price. Find the marked price of the article.

1. Rs.400

2. Rs.800

3. Rs.100

4. Rs.1600

5. Rs.200

Q.

A shopkeeper offers $15\%$ discount on TV set with MP $₹21500,12\%$ on a toaster of MP $₹3500\&20\%$ on AC. If the customer bought $2TVsets,2toaster\&5ACs.$ and the bill for the purchase is $₹2,17,900$, calculate the MP of AC. How much is the total saving on this offer?

Q. The members of Third Estate had to Pay direct tax to the state called ____________.

1. Livre
2. Tithe
3. Taille
4. All of these

Q. Which of the following is Direct tax?

1. Income tax
2. Sales tax
3. Custom duty
4. CENVAT

Q. Ashok and Sandeep invested Rs 18000 each in buying shares of two different companies, Ashok buys 7.5%. Rs 100 share at a discount of 20%, whereas Sandeep buys Rs 50 share at a premium of 20%. If both receive equal dividend at the end of the year, then find the rate of dividend received by Sandeep.