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Here we provide you with Applied Maths Chapter 15, to help you gain a comprehensive understanding of the chapter and its concepts.
Applied Maths Chapter 15 Solutions
Taxation
Exercise – 15.1
Q.1 A manufacturer sells a T.V. to a dealer for Rs.18000 and the dealer sells it to a consumer at a profit of Rs.1500. If the sales are intra-state and the rate of GST is 12%, find:
(i) the amount of GST paid by the dealer to the State Government.
(ii) the amount of GST received by the Central Government.
(iii) the amount of GST received by the State Government.
(iv) the amount that the consumer pays for the TV.
Ans. SGST (Input GST)
= 18000×6/100
= Rs.1080
CGST = Rs.1080
Coat for consumer = 18000 + 1500
= Rs.19500
GST collected by dealer (Output GST) = 19500 x 6/10
= Rs.1170
(i) GST paid by dealer = Output GST – Input GST
= 1170 – 1080
= Rs.90
(ii) GST received by central government = 1080 + 90
= Rs.1170
(iii) GST received by state government = Rs.1170
(iv) Amount paid by customers for the TV = 19500 + 1170 + 1170
= Rs.21840
Q.2 A shopkeeper buys a camera at a discount of 20% from a wholesaler, the printed price of the camera being Rs.1600. The shopkeeper sells it to a consumer at the printed price. If the sales are intra-state and the rate of GST is 12%, find:
(i) GST paid by the shopkeeper to the Central Government.
(ii) GST received by the Central Government.
(iii) GST received by the State Government.
(iv) the amount at which the consumer bought the camera.
Ans. Printed price = Rs.1600
Price for dealer = 1600 – 1600 x 20/100
= 1600 – 320 = Rs.1280
GST paid by dealer (Input GST)
= 1280 x 6/100 = Rs.76.8
Price for consumer = Rs.1600
Output GST = 1600 x 6/100
= Rs.96
(i) GST paid by shopkeeper = Output GST – Input GST
= 96 – 76.80 = Rs.19.20
(ii) CGST = Rs.96
(iii) SGST = Rs.96
(iv) Total amount of camera = 1600 + 96 + 96 = Rs.1792
Q.3 A manufacturer sells a washing machine to a wholesaler for Rs.15000. The wholesaler sells it to a trader at a profit of Rs.1200 and the trader sells it to a consumer at a profit of Rs.1800. If all the sales are intra-state and the rate of GST is 12%, find:
(i) the amount of tax (under GST) received by the State Government from the wholesaler.
(ii) the amount of tax (under GST) received by the Central Government from the trader.
(iii) the amount that the consumer pays for the machine.
Ans. GST paid by wholesaler
= 15000 x 6/100
= Rs.900
Price for trader = 15000 + 1200
= Rs.16200
GST paid by trader= 16200 x 6/100
= Rs.972
Price for consumer = 16200 + 1800 = Rs.18000
GST paid by consumer
= 18000 x 6/100
= Rs.1080
(i) SGST = Output GST – Input GST
= 972 – 900
= Rs.72
(ii) CGST = 1080 – 972
= Rs.108
(iii) Price of machine for consumer = 18000 + 1080 + 1080
= Rs.20160
Q.4 A dealer buys an article at a discount of 30% from the wholesaler, the marked price being Rs.6000. The dealer sells it to a consumer at a discount of 10% on the marked price. If the sales are intra-state and the rate of GST is 5%, find:
(i) the amount paid by the consumer for the article.
(ii) the tax (under GST) paid by the dealer to the State Government.
(iii) the amount of tax (under GST) received by the Central Government.
Ans.
Marked price of the article = ₹6000
Rate of discount for dealer = 30%
Cost Price of article for dealer
= Marked Price – Discount
= 6000 – 6000 x 30/100
= 6000 – 1800
= Rs.4200
GST collected by the wholesaler from the dealer(or paid by the dealer)
CGST = 4200 x 2.5/100 = ₹105
SGST = 4200 x 2.5/100 = ₹105
∴ Amount of Input GST of dealer:
Input CGST = ₹105
Input SGST = ₹105
The selling price of the article by the dealer (or cost price for the consumer):
= Marked Price – Discount
= 6000 − 6000 x 10/100
= 6000 – 600
= Rs.5400
The amount of GST collected by the dealer (or paid by the consumer):
CGST = 5400 x 2.5/100 = ₹135
SGST = 5400 x 2.5/100 = ₹135
∴ Amount of output GST of dealer:
Output CGST = ₹135
Output SGST = ₹135
(i) the amount paid by the consumer for the article.
= Cost price of article for consumer + CGST paid by consumer + SGST paid by consumer
=5400 + 135 +135 = ₹5670
(ii) the tax (under GST) paid by the dealer to the State Government.
= Output SGST of dealer – Input SGST of dealer
=135 – 105 = ₹30
(iii) the amount of tax (under GST) received by the Central Government.
= CGST paid by Wholesaler + CGST paid by dealer
=105 + 30 = ₹135
Q.5 The printed price of an article is Rs.50000. The wholesaler allows a discount of 10% to a shopkeeper. The shopkeeper sells the article to a consumer at 4% above the marked price. If the sales are intra-state and the rate of GST is 18%, find:
(i) the amount inclusive of tax (under GST) which the shopkeeper pays for the article.
(ii) the amount paid by the consumer for the article.
(iii) the amount of tax (under GST) paid by the shopkeeper to the Central Government.
(iv) the amount of tax (under GST) received by the State Government.
Ans. Printed price = Rs.50000, GST = 18%
Price for shopkeeper =
50000 – 50000 x 10/100
= 50000 – 5000
= RS.45000
CGST = 45000 x 9/100 = Rs.4050
SGST = 45000 x 9/100 = Rs.4050
Output CGST by wholesaler/ Input CGST by shopkeeper = Rs.4050
Output SGST by wholesaler/ Input SGST by shopkeeper = Rs.4050
Price for consumer =
50000 + 50000 x 4/100
= 50000 + 2000
= Rs.52000
CGST = 52000 x 9/100 = Rs.4680
SGST = 52000 x 9/100 = Rs.4680
Output CGST by shopkeeper = Rs.4680
Output SGST by shopkeeper
= Rs.4680
(i) Price of an article for shopkeeper = 46000 + 4050 + 4050 = Rs.53100
(ii) Amount paid by consumer = 52000 + 4680 + 4680
= Rs.61360
(iii) CGST paid by shopkeeper = Output CGST – Input CGST
= 4680 – 4050
= Rs.630
(iv) SGST = 4050 + 630
= Rs.4680
Q.6 A retailer buys a T.V. from a wholesaler for Rs.40000. He marks the price of the T.V. 15% above his cost price and sells it to a consumer at a 5% discount on the marked price. If the sales are intra-state and the rate of GST is 12%, find:
(i) the marked price of the TV.
(ii) the amount which the consumer pays for the T.V.
(iii) the amount of tax (under GST) paid by the retailer to the Central Government.
(iv) the amount of tax (under GST) received by the State Government.
Ans. Price for retailer = Rs.40000
Input GST for retailer
= 40000 x 6/100
= Rs.24000
15% of 40000 = 15/100 x 40000
= Rs.6000
(i) Marked price of TV =
40000 + 6000
= Rs.46000
5% of 46000 = 46000 x 5/100
= Rs.2300
Price for consumer = 46000 – 2300
= Rs.43700
Output GST paid by consumer = 43700 x 6/100
= Rs.2622
(ii) Price paid by consumer = 43700 + 2622 + 2622
= Rs.48944
(iii) CGST = Output GST – Input GST
= 2622 – 2400
= Rs.222
(iv) SGST = Rs.2622
Q.7 A shopkeeper buys an article from a manufacturer for Rs.12000 and marks up its price by 25%. The shopkeeper gives a discount of 10% on the marked-up price and he gives a further off-season discount of 5% on the balance to a customer of T.V. If the sales are intra-state and the rate of GST is 12%, find:
(i) the price inclusive of tax (under GST) which the consumer pays for the T.V.
(ii) the amount of tax (under GST) paid by the shopkeeper to the State Government.
(iii) the amount of tax (under GST) received by the Central Government.
Ans. Price of an article = Rs.12000, GST = 12%
CGST = 12000 x 6/100 = Rs.720
SGST = 12000 x 6/100 = Rs.720
Output CGST by wholesaler/ Input CGST by shopkeeper = Rs.720
Output SGST by wholesaler/ Input SGST by shopkeeper = Rs.720
Marked price of article = 12000 + 12000 x 25/100
= 12000 + 3000
= Rs.15000
Discounted price = 15000 – 15000 x 10/100
= 15000 – 1500
= Rs.13500
Further, discounted price = 13500 – 13500 x 5/100
= 13500 – 675
= Rs.12825
Price for consumer = Rs.12825
CGST = 12825 x 6/100 = Rs.769.50
SGST = 12825 x 6/100 = Rs.769.50
Output CGST by shopkeeper = Rs.769.50
Output SGST by shopkeeper = Rs.769.50
(i) Amount paid by consumer = 12825 + 769.50 + 769.50
= Rs.14364.00
(iii) SGST by shopkeeper = Output CGST – Input CGST
= 769.50 – 720
= Rs.49.50
(iv) CGST = 720 + 49.50
= Rs.769.50
Q.8 A manufacturer marks an article at Rs.5000. He sells it to a wholesaler at a discount of 25% on the marked price and the wholesaler sells it to a retailer at a discount of 15% on the marked price. The retailer sells it to a consumer at the marked price. If all the sales are intra-state and the rate of GST is 12%, find:
(i) the amount inclusive of tax (under GST) which the wholesaler pays for the article.
(ii) the amount inclusive of tax (under GST) which the retailer pays for the article.
(iii) the amount of tax (under GST) which the wholesaler pays to the Central Government.
(iv) the amount of tax (under GST) which the retailer pays to the State Government.
Ans. Marked price = Rs.5000, GST = 12%
Price for wholesaler =
5000 – 5000 x 25/100
= 5000 – 250
= RS.3750
CGST = 3750 x 6/100 = Rs.225
SGST = 3750 x 6/100 = Rs.225
Output CGST by manufacturer/ Input CGST by wholesaler = Rs.225
Output SGST by manufacturer/ Input SGST by wholesaler = Rs.225
Price for retailer =
5000 – 5000 x 15/100
= 5000 – 750
= Rs.4250
CGST = 4250 x 6/100 = Rs.225
SGST = 4250 x 6/100 = Rs.225
Output CGST by wholesaler/ Input CGST by retailer = Rs.255
Output SGST by wholesaler/ Input SGST by retailer = Rs.225
Price for consumer = Rs.5000
CGST = 5000 x 6/100 = Rs.300
SGST = 5000 x 6/100 = Rs.300
Output CGST by retailer = Rs.300
Output SGST by retailer = Rs.300
(i) Amount paid by wholesaler = 3750 + 225 + 225
= Rs.4200
(ii) Amount paid by retailer = 4250 + 255 + 255 = Rs.4760
(iii) CGST paid by wholesaler =
255 – 225 = Rs.30
(iv) SGST by retailer = 300 – 255
= Rs.45
Q.9 The printed price of an article is ₹40000. A wholesaler in Uttar Pradesh buys the article from a manufacturer in Gujarat at a discount of 10% on the printed price. The wholesaler sells the article to a retailer in Himachal at 5% above the printed price. If the rate of GST on the article is 18%, find:
(i) the amount inclusive of tax (under GST) paid by the wholesaler for the article.
(ii) the amount inclusive of tax (under GST) paid by the retailer for the article.
(iii) the amount of tax (under GST) paid by the wholesaler to the Central Government.
(iv) the amount of tax (under GST) received by the Central Government.
Ans. Printed Price offered by wholesaler = Rs.40000
Discount (10%) = 4000
S.P offered by manufacturer = Rs.36000
Since, it is an inter-state sales,
IGST(18%) IS applicable.
IGST (to be paid to central government) = 18/100 x 36000 = Rs.6480 [Input GST]
Amount paid by wholesaler = 36000 + 6480
= Rs.42480
Now, printed price for the wholesaler = Rs.40000
Price hike(5%) = Rs.2000
S.P offered by wholesaler = Rs.42000
IGST = 18/100 x 42000 = Rs.7560 [Output GST]
Amount paid by retailer = Rs.42000 + Rs.560 = Rs.49560
(i) Amount paid by wholesaler = 36000 + 6480 = Rs.42480
(ii) Amount paid by retailer = Rs.42000 + Rs.560 = Rs.49560
(iii) Amount of Tax = Output GST – Input GST = 7560 – 6480
= Rs.1080
(iv) Tax Amount = Rs.7560
Q.10 A shopkeeper in Delhi buys an article at the printed price of Rs.24000 from a wholesaler in Mumbai. The shopkeeper sells the article to a consumer in Delhi at a profit of 15% on the basic cost price. If the rate of GST is 12%, find:
(i) the price inclusive of tax (under GST) at which the shopkeeper bought the article.
(ii) the amount which the consumer pays for the article.
(iii) the amount of tax (under GST) received by the State Government of Delhi.
(iv) the amount of tax (under GST) received by the Central Government.
Ans. S.P offered by wholesaler = Rs.24000
Since, it is an inter-state sales,
IGST (12%) is applicable
IGST = 12/100 x 2400 = Rs.2880
(To be collected by central government)
Amount paid by shopkeeper = 2400 + 2880 = Rs.26880
Basic C.P for the shopkeeper = Rs.24000
Profit (15%) = Rs.36000
S.P offered by shopkeeper = Rs.27600
Since, it is inter-state trade,
CGST = 6% , SGST = 6%
CGST = 6/100 x 27600 = Rs.1656
SGST = 6/100 x 27600 = Rs.1656
(Delhi govt.)
Amount paid by consumer = 27600 + 3312 = Rs.30912
(i) Amount paid by shopkeeper = 2400 + 2880 = Rs.26880
(ii) Amount paid by consumer = 27600 + 3312 = Rs.30912
(iii) Amount of tax received by the State Government of Delhi = Output CGST – Input CGST
= 3312 – 2880
= Rs.432
(iv) Tax collected by central government = Rs.2880
Q.11 Kiran purchases an article for Rs.5310 which includes a 10% rebate on the marked price and 18% tax (under GST) on the remaining price. Find the marked price of the article.
Ans. Amount Paid = Rs.5310
S.P + GST (18%) = 5310,
Let, S.P of the article be ‘x’
x + 18/100 x = 5310
(50x + 9x)/50 = 5310
59x/50 = 5310
x = 5310 x 50/59
Therefore, x = 4500
S.P = Rs.4500
ATQ, Discount = 10%
We know that,
M.P -Discount = S.P
Let, M.P of the article be ‘y’
y – 10% of y = 4500
y – 10/100y = 4500
(10y – y)/10 = 4500
9y/10 = 4500
y = 4500 x 10/9
y = 5000
Therefore, M.P = Rs.5000
Q.12 A shopkeeper buys an article whose list price is Rs.8000 at some rate of discount from a wholesaler. He sells the article to a consumer at the list price. The sales are intra-state and the rate of GST is 18%. If the shopkeeper pays a tax (under GST) of 72 to the State Government, find the rate of discount at which he bought the article from the wholesaler.
Ans. List price = Rs.8000
Let,
Discount be Rs.x
Price for shopkeeper= Rs.(8000 – x)
Price for consumer = 8000
GST paid by shopkeeper(Input GST) = (8000 – x) x 9/100
GST paid by consumer (Output GST) = 8000 x 9/100
= Rs.720
GST paid by dealer = Output GST – Input GST
720 – (8000-x)9/100 = 72
720 – 72 = (8000 – x)9/100
648 x 100 = 72000 – 9x
9x = 72000 – 64800
x = 7200/9
x = 800
Therefore,
Discount% = 800/8000 x 100
= 10%
FAQ’s related to Applied Maths Chapter 15 on Taxation:
Q.1 What is the significance of studying taxation in Applied Maths chapter 15 for Class 11 students?
Ans. Studying taxation in applied mathematics provides students with practical knowledge about how mathematical concepts are used to analyze and understand real-world economic issues. It helps students develop critical thinking skills and an understanding of the role of mathematics in solving societal problems.
Q.2 What are the main topics covered in Applied Maths Chapter 15 on Taxation in the Class 11 textbook by M.L. Aggarwal?
Ans. The main topics covered in Chapter 15 on Taxation include tax incidence, types of taxes, tax revenue, tax evasion, tax avoidance, and tax administration. Students learn about the principles of taxation and how taxes affect individuals, businesses, and the economy.
These are few Frequently Asked Questions relating to Applied Maths Chapter 15
In Applied Maths chapter 15, you will explore fascinating topics that form the backbone of practical problem-solving techniques. Through clear explanations, illustrative examples, and step-by-step solutions, you’ll grasp complex concepts effortlessly. Whether you’re preparing for exams or simply eager to deepen your mathematical understanding, Applied Maths Chapter 15 promises an enriching learning experience that will set you on the path to success. Applied Maths Chapter 15, we delve deep into advanced mathematical concepts that are crucial for understanding.
Applied Maths Chapter 15 EXCERCISES:
