## 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**

- ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 1 Value Added Tax EX 1
- ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 1 Value Added Tax MCQS
- ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 1 Value Added Tax Chapter Test

**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

= ₹ 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 = ₹

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

= ₹

= ₹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

= ₹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

= ₹40000 x

= ₹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

= ₹48000 x

= ₹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

= ₹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

= ₹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

= ₹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 = ₹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

= ₹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.

If you have any doubts, please comment below. Learn Insta try to provide online math tutoring for you.

nitesh says

February 28, 2019 at 8:00 amhow can i download the pdf?

nitesh says

February 28, 2019 at 8:00 amhow can i download the pdf?