ML Aggarwal Solutions for Class 10 Maths Chapter 1

ML Aggarwal Solutions for Class 10 Maths Chapter 1

ML Aggarwal Solutions for Class 10 Maths Chapter 1

ML Aggarwal Goods and Service Tax (GST) solutions for Class 10 Maths Chapter 1 are available here. We will address subjects focused on goods and service tax in this segment. GST is a value-added tax charged on most domestically consumed products and services sold. The GST is compensated by customers, but the companies supplying the products and services are remitted to the state. In effect, GST provides the government with revenue.

ML Aggarwal Solutions for Class 10 Maths Chapter 1 (Part-2)

  1. A retailer buys a TV from a wholesaler for Rs 40000. He marks the price of the T.V. 15% above his cost price and sells it to a consumer at 5% discount on the marked price. If the sales are intra-state and the rate of GST is 12%, find:

(i) The marked price of the TV.

(ii) The amount which the consumer pays for the TV.

(iii) The amount of tax (under GST) paid by the retailer to the Central Government.

(iv) The amount of tax (under GST) received by the State Government.

Solution:

It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

(i) The marked price of the TV.

It is given that, CP of TV for retailer = ₹40000

Marked price of TV = ₹40000 + 15% of 40000

= ₹40000 + (15/100) × 40000

= ₹40000 + 6000

= ₹46000

(ii) The amount which the consumer pays for the TV.

It is given that, Discount given by retailer = 5% of ₹46000

= (5/100) × 46000

= ₹2300

Amount paid by consumer without GST for TV = ₹46000 – ₹2300

= ₹43700

Rate of GST = 12%

Amount of GST paid by consumer = 12% of ₹43700

= (12/100) × 43700

= ₹5244

Amount which consumer pays for TV = ₹43700 + ₹5244 = ₹48944

(iii) The amount of tax (under GST) paid by the retailer to the Central Government.

CGST paid by shopkeeper = 6% of ₹40000

= (6/100) × 40000

= ₹2400

SGST paid by shopkeeper = 6% of ₹40000 = ₹2400

Shopkeeper sells the article to consumer = ₹43700

GST collected by shopkeeper = 12% of ₹43700

= (12/100) × 43700

= ₹5244

CGST of shopkeeper = SGST = 6% of ₹43700

= (6/100) × 43700

= ₹2622

The amount of tax (under GST) paid by the retailer to the Central Government =

₹2622 – ₹2400 = ₹222

(iv) The amount of tax (under GST) received by the State Government.

SGST paid by wholesaler + SGST paid by shopkeeper = ₹2400 + ₹222 = ₹2622

  1. A shopkeeper buys an article from a manufacturer for Rs 12000 and marks up it price by 25%. The shopkeeper gives a discount of 10% on the marked up price and he gives a further off-season discount of 5% or, the balance to a customer of TV. If the sales are intra-state and the rate of CST is 12%, find:

(i) The price inclusive of tax (under GST) which the consumer pays for the TV.

(ii) The amount of tax (under GST) paid by the shopkeeper to the Stale Government.

(iii) The amount of tax (under CST) received by the Central Government.

Solution:

It is a case of intra-state transaction of goods and services.

SGST = CGST = ½ GST

Given:

(i) The price inclusive of tax (under GST) which the consumer pays for the TV.

CP of an article for shopkeeper = ₹12000

Marked price of article = ₹12000 + 25% of ₹12000

= ₹12000 + (25/100) × 12000

= ₹15000

Amount of discount given by shopkeeper = 10% of ₹15000

= (10/100) × 15000

= ₹1500

Again, shopkeeper gives off season discount of 5% on the balance = 5% of (15000 – 1500) = (5/100) × 13500

= ₹675

CP of TV for consumer = ₹13500 – ₹675 = ₹12825

Amount of GST paid by consumer = 12% of ₹12825

= (12/100) × 12825

= ₹1539

The price inclusive of tax (under GST) which the consumer pays for the TV = ₹12825 + ₹1539 = ₹14364

(ii) The amount of tax (under GST) paid by the shopkeeper to the Stale Government.

CGST = SGST = 6% of ₹12000

= (6/100) × 12000

= ₹720

GST paid by consumer to shopkeeper,

CGST = SGST = 6% of ₹12825

= (6/100) × 12825

= ₹769.50

The amount of tax (under GST) paid by the shopkeeper to the Stale Government =

₹769.50 – ₹720 = ₹49.50

(iii) The amount of tax (under CST) received by the Central Government.

CGST paid by manufacturer = ₹720

CGST paid by shopkeeper = ₹769.50 – ₹720 = ₹49.50

The amount of tax (under CST) received by the Central Government =

₹720 + ₹49.50 = ₹769.50

  1. The printed price of an article is Rs 40000. A wholesaler in Uttar Pradesh buys the article horn a manufacturer in Gujarat at a discount of 10% on the printed price. The wholesaler sells the article to a retailer in Himachal at 5% above the printed price. If the rate of GST on the article is 18%, find:

(i) The amount inclusive of tax (under GST) paid by the wholesaler for the article.

(ii) The amount inclusive of tax (under GST) paid by the retailer for the article.

(iii) The amount of tax (under GST) paid by the wholesaler to the Central Government.

(iv) The amount of tax (under GST) received by the Central Government.

ML Aggarwal Solutions for Class 10 Maths

Solution: 

Here, both given sales from manufacturer to wholesaler and wholesaler to retailer are inter-state.

So, CGST = SGST = 0

GST = IGST

Given:

Printed price of an article = ₹40000

Discount given by manufacturer = 10% of ₹40000

= (10/100) × 40000

= ₹4000

CP of article for wholesaler = ₹40000 – ₹4000 = ₹36000

CP of article without tax for retailer = ₹40000 + 5% of ₹40000

= ₹40000 + (5/100) × 40000

= ₹42000

(i) The amount inclusive of tax (under GST) paid by the wholesaler for the article.

Amount of GST paid by wholesaler to manufacturer = 18% of ₹36000

= (18/100) × 36000

= ₹6480

The amount inclusive of tax (under GST) paid by the wholesaler for the article =

₹36000 + ₹6480 = ₹42480

(ii) The amount inclusive of tax (under GST) paid by the retailer for the article.

Amount of GST paid by retailer to wholesaler = 18% of ₹42000

= (18/100) × 42000

= ₹7560

The amount inclusive of tax (under GST) paid by the retailer for the article =

₹42000 + ₹7560 = ₹49560

(iii) The amount of tax (under GST) paid by the wholesaler to the Central Government.

Amount of GST paid by wholesaler to manufacturer = 18% of ₹36000

= (18/100) × 36000

= ₹6480

Amount of GST paid by retailer to wholesaler = 18% of ₹42000

= (18/100) × 42000

= ₹7560

The amount of tax (under GST) paid by the wholesaler to the Central Government =

₹7560 – ₹6480 = ₹1080

(iv) The amount of tax (under GST) received by the Central Government.

IGST paid by wholesaler to the Central Government = ₹1080

IGST paid by manufacturer = ₹6480

The amount of tax (under GST) received by the Central Government = ₹1080 + ₹6480

= ₹7560

  1. A dealer in Delhi buys an article for ₹16000 from a wholesaler in Delhi. He sells the article to a consumer in Rajasthan at a profit of 25%. If rate of GST is 5%, find:

(i) the tax (under GST) paid by the wholesaler to Government.

(ii) the tax (under GST) paid by the dealer to the Government.

(iii) the amount which the consumer pay for the article.

Solution:

Cost price of the article for the dealer = 16000

As the sales are interstate the GST will go the central government

GST = (5/100) × 16000

= ₹800

The article is sold at a profit of 25% to a consumer

Profit = (25/100) × 16000

= ₹4000

Thus, the selling price of the article = 16000 + 4000 = ₹20000

As the sales are interstate, then

GST = 5/100 × ₹20000

= ₹1000

(i) The tax paid by the wholesaler to the governments

= ₹800/2

= ₹400

Thus, CGST = ₹400 and SGST = ₹400

(ii) The tax paid by the dealer to the governments

= IGST = ₹1000 – ₹800 = ₹200

(iii) Total amount paid by the consumer for the article

= 20000 + 1000

= ₹21000

ML Aggarwal Solutions for Class 10 Maths

  1. A shopkeeper in Delhi buys an article at the printed price of Rs 24000 from a wholesaler in Mumbai. The shopkeeper sells the article to a consumer in Delhi at a profit of 15% on the basic cost price. if the rate of GST is 12%, find:

(i) The price inclusive of tax (under GST) at which the wholesaler bought the article.

(ii) The amount which the consumer pays for the article.

(iii) The amount of tax (under GST) received by the State Government of Delhi.

(iv) The amount of tax (under GST) received by the Central Government.

Solution:

Given:

(i) The price inclusive of tax (under GST) at which the wholesaler bought the article.

CP of an article for shopkeeper = ₹24000

Rate of GST = 12%

IGST collected by wholesaler from shopkeeper = 12% of ₹24000

= (12/100) × 24000

= ₹2880

The price inclusive of tax (under GST) at which the wholesaler bought the article =

CP of article for shopkeeper + IGST paid by shopkeeper to wholesaler = ₹24000 + ₹2880

= ₹26880

(ii) The amount which the consumer pays for the article.

CP of an article for shopkeeper = ₹24000

Profit on CP of article = 15% of CP

SP of an article by the shopkeeper to consumer = CP + Profit

= ₹24000 + 15% of ₹24000

= ₹24000 + (15/100) × 24000

= ₹24000 + 3600

= ₹27600

The amount which the consumer pays for the article = CP of article for consumer + CGST paid by the consumer + SGST paid by consumer =

₹27600 + 6% of ₹27600 + 6% of ₹27600 =

₹27600 + (6/100) × ₹27600 + (6/100) × ₹27600 = ₹27600 + ₹1656 + ₹1656

= ₹30912

(iii) The amount of tax (under GST) received by the State Government of Delhi.

Amount of IGST for shopkeeper = ₹2880

SP of an article to consumer = CP of article for shopkeeper + profit on basic CP

= ₹24000 + 15% of ₹24000

= ₹24000 + (15/100) × ₹24000

= ₹24000 + ₹3600

= ₹27600

As the shopkeeper sells an article to consumer in Delhi; so this sales is Intra-state sales.

Amount of GST collected by shopkeeper from consumer,

CGST = SGST = 6% of ₹27600

= (6/100) × ₹27600

= ₹1656

Amount of tax paid by shopkeeper to state govt. = ₹2880 – ₹1656 = ₹1224

The amount of tax (under GST) received by the State Government of Delhi =

₹1656 – ₹1224 = ₹432

(iv) The amount of tax (under GST) received by the Central Government.

The amount of tax (under GST) received by the Central Government = IGST received from wholesaler + CGST received from shopkeeper = ₹ 2880 + NIL = ₹ 2880

  1. A dealer in Maharashtra buys an article from a wholesaler in Maharashtra at a discount of 25%, the printed price of the article being ₹ 20000. He sells the article to a consumer in Telangana at a discount of 10% on the printed price. If the rate of GST is 12%, find

(i) the tax (under GST) paid by the wholesaler to Governments.

(ii) the tax (under GST) paid by the dealer to the Governments.

(iii) the amount which the consumer pays for the article.

Solution:

The printed price of the article = ₹2000

Discount rate = 25%

Discount = (25/100) x ₹20000 = ₹5000

So, the selling price of the article by the wholesaler = Printed price – discount

= ₹20000 – ₹5000

= ₹15000

(i) The tax (under GST) paid by the wholesaler to the Governments = 12% of the selling price

= (12/100) x ₹1500

= ₹1800

So, the CGST = ₹900 and SGST = ₹900

And, the total amount paid by the dealer = selling price + GST

= ₹15000 + ₹1800

= ₹16800

(ii) The dealer resells the article at a discount of 10% from the marked price

So, the discount = (10/100) x ₹20000

= ₹2000

Hence, the selling of the article from the dealer = marked price – discount

= ₹20000 – ₹2000

= ₹18000

Now, the tax (under GST) paid by the dealer to the Governments = 12% of the selling price

IGST = (12/100) x ₹18000

= ₹2160

Thus, the net tax (under GST) paid by the dealer to the governments = ₹2160 – ₹1800

= ₹360

(iii) The amount which the consumer pays for the article = Selling price of the dealer + IGST

= ₹18000 + 12% of ₹18000

= ₹18000 + ₹2160

= ₹20160

  1. Kiran purchases an article for Rs 5310 which includes 10% rebate on the marked price and 18% tax (under GST) on the remaining price. Find the marked price of the article.

Solution:

Given:

Rate of GST = 18%

CP of an article = x – 10% of x

= x – (10/100)x

= 90x/100

= 9x/10

Amount of GST on CP of article = 18% of 9x/10

= (18/100) × 9x/10

Total CP of article = 9x/10 + [(18/100) × 9x/10] – 9x/10(1 + 18/100) – (118/100) × 9x/10

It is given that, CP of an article including tax = ₹5310

So,

(118/100) × 9x/10 = 5310

x = 5310 × (100/118) × (10/9)

= 5000

The required marked price of an article is ₹5000

ML Aggarwal Solutions for Class 10 Maths

  1. A Shopkeeper buys an article whose list price is Rs 8000 at some rate of discount from the wholesaler. He sells the article to a consumer at the list price. The sales are intra-state and the rate of GST is 18%. If the shopkeeper pays a tax (under GST) of 72 to the State Government, find the rate of discount at which he bought the article from the wholesaler.

Solution:

Given:

List of price of an article = ₹8000

Let the rate of discount given by wholesaler = x%

So,

Discount = x% of ₹8000

= (x/100) × ₹8000

= ₹80x

CP of an article for shopkeeper = ₹8000 – ₹80x

It is given that, CP of article for consumer = ₹8000

Since the sales are intra-state, rate of GST = 18%

CGST = SGST = 9%

Amount of GST paid by shopkeeper to wholesaler,

SGST = CGST = 9% of [₹8000 – ₹80x]

= (9/100) × [₹8000 – ₹80x]

Amount of GST paid by consumer to shopkeeper,

CGST = SGST = 9% of ₹8000

= (9/100) × ₹8000

= ₹720

So, the tax paid by shopkeeper to state government = ₹720 – (9/100) × [₹8000 – ₹80x]

Also, tax paid by shopkeeper to state government = ₹72

₹72 – 720 – ((9×80)/100) (100 – x)

720 – 72 = (720/100) (100 – x)

648 = (72/10) (100 – x)

100 – x = (648×10)/72

100 – x = 90

x = 100 – 90

= 10

Hence, the required rate of discount = 10%

Here you can download the part-1 of Chapter-1 (Part – 1)

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Here you can download the part-1 of Chapter-1 (Part – 2)

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