Practice Set 4.1 Algebra 10th Std Maths Part 1 Answers Chapter 4 Financial Planning
Financial Planning Class 10 Practice Set 4.1 Question 1.
‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST?
Solution:
Solution & Step-by-Step Answer:
Rate of CGST = 9% But, rate of SGST = rate of CGST ∴ Rate of SGST = 9% Rate of GST = Rate of SGST + Rate of CGST = 9% + 9% ∴ Rate of GST = 18%
Financial Planning Class 10 Question 3.
‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is ₹ 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice.
Solution:
Taxable value of 1 tin = ₹ 2800
∴ Taxable value of 2 tins = 2 × 2800
= ₹ 5600
Rate of GST = 28 %
∴ Rate of CGST = Rate of SGST = 14 %
CGST = 14% of taxable value 14
= × 5600
∴ CGST = ₹ 784
∴ SGST = CGST = ₹ 784
∴ The amount of CGST and SGST charged in the tax invoice is ₹ 784 each.
Solution & Step-by-Step Answer:
Taxable value of wrist watch belt = ₹ 586 Rate of GST = 18% ∴ GST = 18% of taxable value = × 586 ∴ GST = ₹ 105.48 ∴ Amount paid by customer = Taxable value of wrist watch belt + GST = 586+ 105.48 = ₹ 691.48 ∴ The price of the belt for the customer is ₹ 691.48.
Solution & Step-by-Step Answer:
Let the amount of GST be ₹ x. Total value of remote controlled toy car = ₹ 1770 ∴ Taxable value of remote controlled toy car = ₹ (1770 – x) Now, GST = 18% of taxable value ∴ Taxable value of toy car is ₹ 1500 and CGST and SGST for it is ₹ 135 each.
Solution & Step-by-Step Answer:
i. Rate of CGST = 14% But, Rate of SGST = Rate of CGST ∴ Rate of SGST = 14%
ii. Rate of GST on AC
= Rate of SGST + Rate of CGST
= 14% + 14% = 28%
∴ Rate of GST on AC is 28%.
iii. Let the cost (Taxable value) of AC be ₹ 100.
Given, GST = 28%
∴ The cost of AC with GST is ₹ 128.
For the total value of ₹ 128, the taxable value is ₹ 100.
For the total value of ₹ 51200, let the taxable value be ₹ x
∴ Taxable value of AC is ₹ 40,000.
iv. Total amount of GST = 28% of taxable value
= × 40000
= ₹ 11,200
∴ Total amount of GST is ₹ 11,200.
∴ Amount of CGST is ₹ 5600.
vi. Amount of SGST = Amount of CGST
= ₹ 5600
Amount of SGST is ₹ 5600.
Solution & Step-by-Step Answer:
Printed price of washing machine = ₹ 40,000 Rate of discount = 5% Amount of discount = 5% of printed price = × 40000 = ₹ 2000 ∴ Taxable value = Printed price – Discount = 40000 – 2000 = ₹ 38000 Rate of GST = 28% ∴ Rate of CGST = 14% and Rate of SGST = 14% CGST = 14% of taxable value = × 38000 ∴ CGST = ₹ 5320 ∴ CGST = SGST = ₹ 5320 Purchase price of washing machine = Taxable value + CGST + SGST = 38000 + 5320 + 5320 = ₹ 48,640 ∴ Purchase price of washing machine is ₹ 48640. Amount of CGST and SGST in tax invoice is ₹ 5320 each.
Solution & Step-by-Step Answer:
i. Price of 1 kg of Pedhe is ₹ 400, therefore cost of 500 gm. of Pedhe is ₹ 200. CGST for pedhe at the rate of 2.5% is ₹ [5] and SGST at the rate of [2.5| % is ₹ 5.00. It means that the rate of GST on Pedhe is 2.5% + 2.5% = 5% and hence the total GST is ₹ 10. ii. The rate of GST on chocolate is [28] % and hence the total GST is ₹ [22.40] iii. Rate of GST on Ice-cream is [18] %, hence the total cost of ice-cream is ₹ 236 iv. On butter CGST rate is [6] % and SGST rate is also [6] %. So GST rate on butter is [12]%.
Solution & Step-by-Step Answer:
Solution & Step-by-Step Answer:
Solution & Step-by-Step Answer:
Solution & Step-by-Step Answer:
[Note : The above Activities has many answers students may write answers other than the ones given]