{"id":22467,"date":"2020-02-05T12:02:53","date_gmt":"2020-02-05T06:32:53","guid":{"rendered":"https:\/\/kseebsolutions.guru\/?p=22467"},"modified":"2021-07-02T15:25:49","modified_gmt":"2021-07-02T09:55:49","slug":"1st-puc-basic-maths-question-bank-chapter-11","status":"publish","type":"post","link":"https:\/\/kseebsolutions.guru\/1st-puc-basic-maths-question-bank-chapter-11\/","title":{"rendered":"1st PUC Basic Maths Question Bank Chapter 11 Percentages of Profit and Loss Sales tax, Vat"},"content":{"rendered":"

Students can Download Basic Maths Chapter 11 Percentages of Profit and Loss Sales tax, Vat Questions and Answers, Notes Pdf, 1st PUC Basic Maths Question Bank with Answers<\/a> helps you to revise the complete Karnataka State Board Syllabus and score more marks in your examinations.<\/p>\n

Karnataka 1st PUC Basic Maths Question Bank Chapter 11 Percentages of Profit and Loss Sales tax, Vat<\/h2>\n

Question 1.
\nRavi purchased a pair of shoes costing ‘950. Calculate the total amount to be paid by him, if the rate of sales tax is 7%.
\nAnswer:
\nSales price = Rs. 950
\n\"1st
\nTotal amount paid by Ravi = ‘950 + ’57 = ‘1007.<\/p>\n

Question 2.
\nSneha purchased confectionery goods costing 165 on which the rate of sales tax is 6% and some tooth paste, cold cream, soap etc. costing ‘ 550 which the rate of sales tax is 10%. If she gives 1000 note to the shop keeper, What money will be return to Mrs Sneha?
\nAnswer:
\nPrice of confectionary goods with sales tax = ’65 + 6% + 165 = ‘174.90
\nPrice of toothpaste, cold cream soap with tax = ‘550 + 10% of 550 = 550 + 55 = 605
\n\u2234 the average to be paid = 174.90 + 605 = 774.90
\nAmount to be returned by shop keeper = 1000 – 774.90 = ‘225.90 paise.<\/p>\n

\"1st<\/p>\n

Question 3.
\nThe price of an article inclusive of sales tax of 15% is 3450. Find its marked price if the sales tax is reduced to 6%. How much less does the customer pay for the article?
\nAnswer:
\nLet the marked price = ‘x
\n\u2234 x + 15% of x = 3450
\n\u21d2 \\(\\frac{115 x}{100}\\) = 3050 \u21d2 x = 3000
\n\u2234 Market price of the article = ‘3000
\nSince new sales tax = 60%
\nNow the customer will pay = ‘3000 + 6% of ‘3000 = \\(\\frac{106}{100}\\) \u00d7 ‘3000 = 3180
\n\u2234 customer will pay for the article = 3450 – 3180 = 270 less<\/p>\n

Problems on Overhead charges, Discount<\/span><\/p>\n

Question 1.
\nA shop keeper buys an article for Rs. 1500 and spends20% of the cost on its packing transportation etc. Then he marked price on it. If he sells the article for ‘2,452.50 including 9% sales tax on the price marked. Find its profit as percent.
\nAnswer:
\nLet marked price of the article be ‘x.
\nSales tax price = 9% of x = \\(\\frac{9 x}{100}\\)
\nAccording to given statement n + \\(\\frac{9 x}{100}\\) = 2452.50
\n\u21d2 \\(\\frac{100 x+9 x}{100}\\) = 2452.50 \u21d2 x = 2452.50 \u00d7 \\(\\frac{100}{109}\\) = 2,250
\n\u2234 Marked price = ‘2,250 = selling price
\nSince the shopkeeper buys for ‘1500 and spends 20% of the cost as overhead.
\n\u2234 Total cost price of the article = ‘1500 + 20% ‘1500 = ‘1500 + ‘300= ‘1800
\nProfit = Selling price – total cost price = 2250 – 1800 = 450
\n\u2234 Profit % = \\(\\frac{450}{1800}\\) \u00d7 100 = 22%<\/p>\n

\"1st<\/p>\n

Question 2.
\nPrabha bought an article ‘374. Which included a discount of 15% on the market price and a sales tax of 10% on the reduced price. Find the market price of the article.
\nAnswer:
\nLet the market price of the article be ‘x
\n\u2234 Discount 15% of x = \\(\\frac{15}{100} \\times x=\\frac{3 x}{20}\\)
\n\u21d2 Remaining cost = x – \\(\\frac{3 x}{20}=\\frac{17 x}{20}\\)
\nSales tax = 10%
\n\u2234 price paid by prabha = \\(\\frac{110}{100} \\times \\frac{17 x}{20}=\\frac{187 x}{200}\\)
\nGiven \\(\\frac{187 x}{200}\\) = 374 = x = 374 = \\(\\frac{200}{187}\\) = 400
\n\u2234 Market price = ‘400<\/p>\n

Question 3.
\nA Shopkeeper buys an article at a rebate of 20% on the printed price. He spends ” 40 on transportation of article. After charging a sales tax of 7% on the printed price he sells the article for ‘1,070. Find his gain on percent.
\nAnswer:
\nLet printed price of the article be ‘ x
\n\u21d2 Sales tax on it = 7% of ‘x = \\(\\frac{7 x}{100}\\)
\nBy data x\\(\\frac{7 x}{100}\\) = 1070 \u21d2 x = 1000
\n\u2234 Printed price = ‘1000
\nAgain the shop keeper buy the article at 20% rebate.
\n\u2234 The cost price to the shop keeper = ‘1000 – 20% of 1000 = ‘ 800
\nSince he spends ’40 on the transportation of the article
\n\u21d2 Total cost price = ‘800 + ’40 = ‘840
\nThe selling price = printed price = ‘1000
\n\u21d2 Profit = ‘100 – ‘840 =’160
\nAnd profit = \\(\\frac{160}{840}\\) \u00d7 100 = 19 \\(\\frac{1}{21} \\%\\)<\/p>\n

\"1st<\/p>\n

Value-Added Tax (VAT)<\/span><\/p>\n

Question 1.
\nA Shopkeeper sales an article at its marked price ‘7,500 and charges sales tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of ‘180, calculate the price (inclusive of tax) paid by the shopkeeper.
\nAnswer:
\nSince the shopkeeper sells the article for ‘7,500 and changes sales tax at the rate of 12%
\n\u2234 tax charged by the shopkeeper = 12% of ‘7500
\n= \\(\\frac{12}{100}\\) x 7500 = 900
\nVAT = Tax charge – tax paid ,
\n\u21d2 ‘180 = ‘900 – Taxpaid
\nTax paid by the shopkeeper = ‘ 900 – ‘180 =’ 720
\nIf the shopkeeper buys the article for ‘ x,
\nTax on it = 12% of ‘x = ‘720
\n\u21d2 x = ‘6,000 \u2234 The price (inclusive of tax)
\npaid by the shopkeeper = ‘6000 + ‘720 = ‘6720.<\/p>\n

Question 2.
\nDuring the financial year a shopkeeper purchased goods worth ‘4,15,000 and paid a total tax of ‘38,000. His sales during the period consisted of a taxable turnover of ‘50,000 for goods taxable at 5% and ‘3,20,000 for goods takable at 12%. He also sold tax exempted goods worth ‘ 45,000. Calculate his tax liability for the financial year.
\nAnswer:
\nGoods taxable at 5% turover = ‘ 50,000
\nTax = 50% of ‘50,000 = ‘ 2,500
\nof goods taxable at 125, turover = ‘3,20,000
\ntax = 12% of ‘3,20,000 = ‘38,400
\nGiven tax exampled sales = ‘45,000
\nTotal tax = ‘2,500 + ‘38,400 = ‘40,900
\nTax paid = ‘38,000
\n‘ Net tax payable = Total tax changed – tax paid
\n= ‘40,900 – ‘38,000
\n=’2,900
\n\u2234 Tax liability (under VAT) = ‘2,900<\/p>\n

\"1st<\/p>\n

Question 3.
\nA manufacturing company sold a commodity to its distributor for ‘22,000 including VAT. The distributor sold the commodity to a retailer for ‘ 22,000 excluding tax and the retailer sold it to the customer for ‘ 25,000 plan tax (under VAT). If the rate of tax is 10%. What was the:
\n(i) Sale price of the commodity for the manufacture?
\n(ii) An amount of tax received by the state government on the sale of the commodity?
\nAnswer:
\n(i) Let the price of the commodity for the manufacture be ‘x, tax is 10%.
\n\u2234 tax charged by the manufactures = 10% of C.P
\n\"1st
\n\u2234 The sale price of the commodity for the manufacture = 20,000<\/p>\n

(ii) VAT collected by the manufacture = tax charged by the manufacture
\n\"1st
\nsince the distributor has sold the commodity tot he retailer for ‘22,000
\n\u2234 tax collected by the distributor = 10% of22,000
\n= \\(\\frac{10}{100}\\) \u00d7 22000 = ‘2200 = paid by retailer
\nVAT to be deposited by the distributor = ‘2200 – ‘2000 = ‘200
\nTax collected by retailer = 10% of 25000
\n= \\(\\frac{10}{100}\\) \u00d7 25,000 = ‘2500
\n\u2234 VAT to be paid by the retailer = ‘2500 – ‘2200 = ‘300
\n\u2234 Amount of the (under VAT) received by the state government
\n= ‘2000 + ‘200 + ‘300 = ‘2500<\/p>\n","protected":false},"excerpt":{"rendered":"

Students can Download Basic Maths Chapter 11 Percentages of Profit and Loss Sales tax, Vat Questions and Answers, Notes Pdf, 1st PUC Basic Maths Question Bank with Answers helps you to revise the complete Karnataka State Board Syllabus and score more marks in your examinations. Karnataka 1st PUC Basic Maths Question Bank Chapter 11 Percentages …<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[81],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/posts\/22467"}],"collection":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/comments?post=22467"}],"version-history":[{"count":0,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/posts\/22467\/revisions"}],"wp:attachment":[{"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/media?parent=22467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/categories?post=22467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kseebsolutions.guru\/wp-json\/wp\/v2\/tags?post=22467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}