## ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 1 Value Added Tax MCQS

These Solutions are part of ML Aggarwal Class 10 Solutions for ICSE Maths. Here we have given ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 1 Value Added Tax MCQS

**More Exercises**

**A retailer purchases a fan for ₹ 1200 from a wholesaler and sells it to a consumer at 15% profit. If the rate of sales tax (under VAT) at every stage is 8%, then choose the correct answer from the given four options for questions 1 to 5 :**

**Question 1.****The selling price of the fan by the retailer (excluding tax) is****(a) ₹ 1200****(b) ₹ 1380****(c) ₹ 1490.40****(d) ₹ 11296****Solution:**

Cost price of a fan = ₹ 1200

Profit = 15%

**Question 2.****VAT paid by the wholesaler is****(a) ₹ 96****(b) ₹ 14.40****(c) ₹ 110.40****(d) ₹ 180****Solution:**

Rate of VAT =8%

.’. VAT paid by wholesaler = ₹ 1200 x (\ frac { 8 }{ 100 })

= ₹ 96 (a)

**Question 3.****VAT paid by the retailer****(a) ₹ 180****(b) ₹ 110.40****(c) ₹ 96****(d) ₹ 14.40****Solution:**

VAT deducted by the retailer = ₹ (\ frac { 1380times 8 }{ 100 })

VAT paid by wholesalers = ₹ 96 .

Net VAT paid by his = ₹ 110.40 – 96.00

= ₹14.40 (d)

**Question 4.****VAT collected by the Government on the sale of fan is****(a) ₹14.40****(b) ₹96****(c) ₹110.40****(d) ₹180****Solution:**

VAT collected by the govt, on the sale of fan

= ₹ (\ frac { 11040 }{ 100 })

= ₹110.40 (c)

**Question 5.****The cost of the fan to the consumer inclusive of tax is****(a) ₹1296****(b) ₹1380****(c) ₹1310.40****(d) ₹1490.40****Solution:**

Cost of fan to the consumer inclusive tax

= ₹1380 + 110.40

= ₹ 1490.40 (d)

**A shopkeeper bought a TVfrom a distributor at a discount of 25% of the listed price of ₹ 32000. The shopkeeper sells the TV to a consumer at the listed price. If the sales tax (under VAT) is 6% at every stage, then choose the correct answer from the given four options for questions 6 to 8 :**

**Question 6.****VAT paid by the distributor is****(a) ₹1920****(b) ₹1400****(c) ₹480****(d) ₹8000****Solution:**

List price of T.V. set = ₹32000

Discount = 25%

Rate of VAT = 6%

= ₹1440 (b)

**Question 7.****VAT paid by the shopkeeper is****(a) ₹480****(b) ₹1440****(c) ₹1920****(d) ₹8000****Solution:**

Total VAT charged by the shopkeeper

= ₹32000 x (\ frac { 6 }{ 100 })

= ₹1920

VAT already paid by distributor = ₹ 1440

Net VAT paid by shopkeeper

= ₹1920 – ₹1440

= ₹480 (a)

**Question 8.****The cost of the TV to the consumer inclusive of tax is****(a) ₹8000****(b) ₹32000****(c) ₹33920****(d) none of these****Solution:**

Cost of T.V. to the consumer inclusive of VAT = ₹32000 + 1920

= ₹33920 (c)

A wholesaler buys a computer from a manufacturer for ₹ 40000. He marks the price of the computer 20% above his cost price and sells it to a retailer at a discount of 10% on the marked price. The retailer sells the computer to a consumer at the marked price. If the rate of sales tax (under VAT) is 10% at every stage, then choose the correct answer from the given four options for questions 9 to 15 :

**Question 9.****The marked price of the computer is****(a) ₹40000****(b) ₹48000****(c) ₹50000****(d) none of these****Solution:**

C.R of computer for manufacturer = ₹40000

After marking 20% above the C.R, the price

= ₹40000 x (\ frac { 100+20 }{ 100 })

= ₹40000 x (\ frac { 120 }{ 100 })

= ₹48000 (b)

**Question 10.****Cost of the computer to the retailer (excluding tax) is****(a) ₹36000****(b) ₹40000****(c) ₹43200****(d) ₹47520****Solution:**

Rate of discount = 10%

.’. Sales price after discount

= ₹48000 x (\ frac { 100-10 }{ 100 } )

= ₹48000 x (\ frac { 90 }{ 100 } )

= ₹43200 (c)

**Question 11.****Cost of the computer to the retailer inclusive of tax is****(a) ₹47520****(b) 43200****(c) 44000****(d) none of these****Solution:**

Rate of sales tax (VAT) = 10%

Sales tax charged = ₹43200 x (\ frac { 10 }{ 100 } )

= ₹4320

Cost price of T.V. including S.T.

= ₹43200 + ₹4320

= ₹47520 (a)

**Question 12.****VAT paid by the manufacturer is****(a) ₹4000****(b) ₹4320****(c) ₹320****(d) none of these****Solution:**

VAT paid by the manufacturer

= ₹40000 x (\ frac { 10 }{ 100 } )

= ₹4000 (a)

**Question 13.****VAT paid by the wholesaler is****(a) ₹4000****(b) ₹4320****(c) ₹320****(d) ₹480****Solution:**

VAT paid by the wholesaler = ₹43200 x (\ frac { 10 }{ 100 } )

= ₹4320

VAT already paid = ₹4000

Net VAT paid by = ₹4320 – ₹4000

= ₹320 (c)

**Question 14.****VAT paid by the retailer is****(a) ₹4000****(b) ₹4320****(c) ₹320****(d) ₹480****Solution:**

VAT paid by retailer = 48000 x (\ frac { 10 }{ 100 }) = ₹4800

VAT already paid = ₹4320

Net VAT to be paid = ₹4800 – 4320

= ₹480 (d)

**Question 15.****Consumer’s cost price inclusive of VAT is****(a) ₹47520****(b) ₹48000****(c) ₹52800****(d) ₹44000****Solution:**

Sol. Sale price to consumer = ₹4800

VAT paid by the consumer = ₹48000 x (\ frac { 10 }{ 100 } )

= ₹4800

Consumers cost price inclusive of VAT = ₹48000 + ₹4800

= ₹52800 (c)

Hope given ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 1 Value Added Tax MCQS are helpful to complete your math homework.

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