## Selina Concise Mathematics Class 10 ICSE Solutions Chapter 1 Value Added Tax Ex 1C

These Solutions are part of Selina Concise Mathematics Class 10 ICSE Solutions. Here we have given Selina Concise Mathematics Class 10 ICSE Solutions Chapter 1 Value Added Tax Ex 1C.

**Other Exercises**

**[In this exercise, all the prices are excluding tax/VAT unless specified].****Question 1.****Madan purchases a compact computer system for ₹ 47,700 which includes 10% rebate on the marked price and then 6% Sales Tax on the remaining price. Find the marked price of the computer.****Solution:**

Sales price of the computer = ₹ 47700

Rate of Sales Tax = 6%

Hence marked price = ₹ 50,000

**Question 2.****An article is marked at ₹ 500. The wholesaler sells it to a retailer at 20% discount and charges sales-tax on the remaining price at 12.5%. The retailer, in turn, sells the article to a customer at its marked price and charges sales-tax at the same rate. Calculate :****(i) the price paid by the customer.****(ii) the amount of VAT paid by the retailer.****Solution:**

Marked price of an article = ₹ 500

Rate of discount = 20%

(i) Price paid by-the customer = ₹ 500 + ₹ 62.50 = ₹ 562.50

(ii) VAt paid by the retailer = ₹ 62.50 – ₹ 50.00 = ₹ 12.50

**Question 3.****An article is marked at ₹ 4,500 and the rate of sales-tax on it is 6%. A trader buys this article at some discount and sells it to a customer at the marked price. If the trader pays ₹ 81 as VAT; find :****(i) how much per cent discount does the trader get ?****(ii) the total money paid by the trader, including tax, to buy the article.****Solution:**

Marked price = ₹ 4500

Rate of S.T. = 6%

VAT paid by the trader = ₹ 81

C.P. for the customer = ₹ 4500

**Question 4.****A retailer sells an article for ₹ 5,350 including 7% Sales Tax on the listed price. If he had bought it at a discount and has made a profit of 25% on the whole, And the rate of discount he gets.****Solution:**

S.P. of an article of the retailer (including S.T.) = ₹ 5350

Rate of S.T. = 7%

**Question 5.****A shopkeeper buys a camera at a discount of 20% from the wholesaler, the printed price of the camera being ₹ 1600 and the rate of sales tax is 6%. The shopkeeper sells it to the buyer at the printed price and charges tax at the same rate. Find :****(i) The price at which the camera can be bought from the shopkeeper.****(ii) The VAT (Value Added Tax) paid by the shopkeeper. (2008)****Solution:**

Printed price (M.P) = ₹ 1600

Rate of discount = 20%

(i) The buyers bought the camera = ₹ 1600 + ₹ 96 = ₹ 1696

(ii) VAT paid by the shopkeeper = ₹ 96 – ₹ 76.80 = ₹ 19.20

**Question 6.****Tarun bought an article for ₹ 8000 and spent ₹ 1000 for transportation. He marked the article at ₹ 11,700 and sold it to a customer. If the customer had to pay 10% sales tax, find:****(i) The customer’s price****(ii) Tarun’s profit percent.****Solution:**

Tarun’s cost price = ? 8000

Transportation charges = ₹ 1000

Tarun’s total cost = (₹ 8000 + ₹ 1000) = ₹ 9000

Tarun’s selling price = ₹ 11,700

Rate of sales tax = 10%

**Question 7.****A shopkeeper sells an article at the listed price of ₹ 1,500 and the rate of VAT is 12% at each stage of sale. If the shopkeeper pays a VAT of ₹ 36 to the Government, what was the price, inclusive of Tax, at which the shopkeeper purchased the articles from the wholesaler?****Solution:**

Tax charged by shopkeeper

**Question 8.****A shopkeeper bought a washing machine at a discount of 20% from a wholesaler, the printed price of the washing machine being ₹ 18,000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the rate of sales tax under is 8%, find:****(i) the VAT paid by the shopkeeper.****(ii) the total amount that the consumer pays for the washing machine. (2014)****Solution:**

(i) S.P. of washing machine

VAT paid by shopkeeper = Tax charged – Tax paid = ₹ 1296 – ₹ 1152 = ₹144

(ii) Price paid by customer = ₹ 16200 + ₹ 1296 = ₹ 17496

**Question 9.****Mohit, a dealer in electronic goods, buys a high class TV set for ₹ 61,200. He sells this TV set to Geeta, Geeta to Rohan and Rohan sells it to Manoj. If the profit at each stage is ₹ 2,000 and the rate of VAT at each stage is 12.5%, find :****(i) total amount of tax (under VAT) paid to the Government.****(ii) Money paid by Manoj to buy the TV set.****Solution:**

For Mohit,

C.P. of electronic goods = ₹ 61200

Amount of profit in each case = ₹ 2000

Net VAT = ₹ 8400 – ₹ 8150 = ₹ 250

(i) Total amount of VAT paid to govt. = ₹ 7650 + ₹ 250 + ₹ 250 + ₹ 250 = ₹ 8400

(ii) Money paid by Manoj to buy the T.V. set = ₹ 67200 + ₹ 8400 = ₹ 75600

**Question 10.****A shopkeeper buys an article at a discount of 30% of the list price which is ₹ 48,000. In turn, the shopkeeper sells the article at 10% discount. If the rate of VAT is 10%, find the VAT to be paid by the shopkeeper.****Solution:**

Market value (M.P.) of an article = ₹ 48000

Rate of discount = 30%

Amount of discount = ₹ 48000 x \\(\\frac { 30 }{ 100 }) = ₹ 14400

(i) Cost price of shopkeeper = ₹ 48000 – ₹ 14400 = ₹ 33600

(ii) C.P. for shopkeeper = ₹ 33600

Rate of VAT = 10%

Amount of VAT paid by shopkeeper

Net VAT paid by the shopkeeper = VAT recovered from customer – VAT paid to dealer

= ₹ 4320 – ₹ 3360 = ₹ 960

**Question 11.****A company sells an article to a dealer for ₹ 40,500 including VAT (sales-tax). The dealer sells it to some other dealer for ₹ 42,500 plus tax. The second dealer sells it to a customer at a profit of ₹ 3,000. If the rate of sales-tax under VAT is 8%, find :****(i) the cost of the article (excluding tax) to the first dealer.****(ii) the total tax (under VAT) received by the Government.****(iii) the amount that a customer pays for the article.****Solution:**

For a company,

S.P. of an article including VAT = ₹ 40500

Rate of VAT = 8%

(i) Amount of article excluding VAT

= ₹ 425 x 108 = ₹ 45900

Total tax (VAT) = ₹ 45900 – ₹ 42500 = ₹ 3000

S.P. for the second dealer = ₹ 42500 + ₹ 3000 = ₹ 45500

(ii) VAT = ₹ \\(\\frac { 45500 x 8 }{ 100 }) = ₹ 3640

(iii) Total amount paid by customer = ₹ 45500 + ₹ 3640 = ₹ 49140

**Question 12.****A wholesaler buys a TV from the manufacturer for ₹ 25,000. He marks the price of the TV 20% above his cost price and sells it to a retailer at 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. (2015)****Solution:**

S.P. for the manufactures = ₹ 25000

or C.P. for a whole seller a T.V. = ₹ 25000

C.P. for the retailer = ₹ 27000 + ₹ 2160 = ₹ 29160

(iii) VAT paid by the whole seller = ₹ 2160 – ₹ 2000 = ₹ 160

**Question 13.****A dealer buys an article at a discount of 30 % from the wholesaler, the marked price being ₹ 6,000. The dealer sells it to a shopkeeper at a discount of 10% on the marked price. If the rate of VAT is 6%, find :****(i) the price paid by the shopkeeper including the tax.****(ii) the VAT paid by the dealer. (2016)****Solution:**

Market price of the article = ₹ 6000

A dealer buys an article at a discount of 30% from the wholesaler.

Price of the article which the dealer paid to the wholesaler = 6000 – 30% of 6000

Amount of the article inclusive of sales tax at which the dealer bought it

= ₹ 4200 + ₹ 252 = ₹ 4452

Dealer sells the article at a discount of 10% to the shopkeeper.

Price of the article which the shopkeeper paid to the dealer = ₹ 6000 – 10% of 6000

Amount of the article inclusive of sales tax at which the shopkeeper bought it

= ₹ 5400 + ₹ 324 = ₹ 5724

The value added by dealer = ₹ 5400 – ₹ 4200 = ₹ 1200

Amount of VAT paid by dealer = 6% of 1200

= \\(\\frac { 6 }{ 100 }) x 1200 = ₹ 72

Price paid by shopkeeper including tax is ₹ 5724

VAT paid by dealer is ₹ 72

Hope given Selina Concise Mathematics Class 10 ICSE Solutions Chapter 1 Value Added Tax Ex 1C are helpful to complete your math homework.

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