ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking MCQS

Choose the correct answer from the given four options (1 to 4):

Question 1.
If Shahrukh opened a recurring deposit account in a bank and deposited Rs 800 per month for $$1 \frac { 1 }{ 2 }$$ years, then the total money
deposited in the account is
(a) Rs 11400
(b) Rs 14400
(c) Rs 13680
(d) none of these
Solution:

Question 2.
Mrs Asha Mehta deposits Rs 250 per month for one year in a bank’s recurring deposit account. If the rate of (simple) interest is 8% per annum, then the interest earned by her on this account is
(a) Rs 65
(b) Rs 120
(c) Rs 130
(d) Rs 260
Solution:

Question 3.
Mr Sharma deposited Rs 500 every month in a cumulative deposit account for 2 years. If the bank pays interest at the rate of 7% per annum, then the amount he gets on maturity is
(a) Rs 875
(b) Rs 6875
(c) Rs 10875
(d) Rs 12875
Solution:

Question 4.
John deposited Rs 400 every month in a bank’s recurring deposit account for $$2 \frac { 1 }{ 2 }$$ years. If he gets Rs 1085 as interest at the time of maturity, then the rate of interest per annum is
(a) 6%
(b) 7%
(c) 8%
(d) 9%
Solution:

ML Aggarwal Class 10 Solutions for ICSE Maths

ML Aggarwal Class 10 Solutions for ICSE Maths Chapter 2 Banking Ex 2

Question 1.
Shweta deposits Rs. 350 per month in a recurring deposit account for one year at the rate of 8% p.a. Find the amount she will receive at the time of maturity.
Solution:

Question 2.
Salom deposited Rs 150 per month in a bank for 8 months under the Recurring Deposit Scheme. ‘What will be the maturity value of his deposit if the rate of interest is 8% per annum?
Solution:

Question 3.
Mrs Goswami deposits Rs. 1000 every month in a recurring deposit account for 3 years at 8% interest per annum. Find the matured value. (2009)
Solution:

Question 4.
Kiran deposited Rs. 200 per month for 36 months in a bank’s recurring deposit account. If the banks pay interest at the rate of 11% per annum, find the amount she gets on maturity?
Solution:

Question 5.
Haneef has a cumulative bank account and deposits Rs. 600 per month for a period of 4 years. If he gets Rs. 5880 as interest at the time of maturity, find the rate of interest.
Solution:

Question 6.
David opened a Recurring Deposit Account in a bank and deposited Rs. 300 per month for two years. If he received Rs. 7725 at the time of maturity, find the rate of interest per annum. (2008)
Solution:

Question 7.
Mr Gupta-opened a recurring deposit account in a bank. He deposited Rs. 2500 per month for two years. At the time of maturity, he got Rs. 67500. Find :
(i) the total interest earned by Mr Gupta.
(ii) the rate of interest per annum.
Solution:

Question 8.
Shahrukh opened a Recurring Deposit Account in a bank and deposited Rs 800 per month for $$1 \frac { 1 }{ 2 }$$ years. If he received Rs 15084 at the time of maturity, find the rate of interest per annum.
Solution:

Question 9.
Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets Rs 1200 as interest at the time of maturity, find:
(i) the monthly instalment
(ii) the amount of maturity. (2016)
Solution:

Question 10.
Mr R.K. Nair gets Rs 6,455 at the end of one year at the rate of 14% per annum in a recurring deposit account. Find the monthly instalment.
Solution:

Question 11.
Samita has a recurring deposit account in a bank of Rs 2000 per month at the rate of 10% p.a. If she gets Rs 83100 at the time of maturity. Find the total time for which the account was held.
Solution:

ML Aggarwal Class 10 Solutions for ICSE Maths

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

Question 1.
A shopkeeper bought a washing machine at a discount of 20% from a wholesaler, the printed price of the washing machine being ₹ 18000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the rate of sales tax is 8%, find:
(i) the VAT paid by the shopkeeper.
(ii) the total amount that the consumer pays for the washing machine.
Solution:

Question 2.
A manufacturing company sold an article to its distributor for ₹22000 including VAT. The distributor sold the article to a dealer for ₹22000 excluding tax and the dealer sold it to a consumer for ₹25000 plus tax (under VAT). If the rate of sales tax (under VAT) at each stage is 10%, find :
(i) the sale price of the article for the manufacturing company.
(ii) the amount of VAT paid by the dealer.
Solution:

Question 3.
The marked price of an article is ₹7500. A shopkeeper sells the article to a consumer at the marked prices and charges sales tax at . the rate of 7%. If the shopkeeper pays a VAT of ₹105, find the price inclusive of sales tax of the article which the shopkeeper paid to the wholesaler.
Solution:

Question 4.
A shopkeeper buys an article at a discount of 30% and pays sales tax at the rate of 6%. The shopkeeper sells the article to a consumer at 10% discount on the list price and charges sales tax at the’ same rate. If the list price of the article is ₹3000, find the price inclusive of sales tax paid by the shopkeeper.
Solution:

Question 5.
Mukherjee purchased a movie camera for ₹27468. which includes 10% rebate on the list price and then 9% sales tax (under VAT) on the remaining price. Find the list price of the movie camera.
Solution:

Question 6.
A retailer buys an article at a discount of 15% on the printed price from a wholesaler. He marks up the price by 10%. Due to competition in the market, he allows a discount of 5% to a buyer. If the buyer pays ₹451.44 for the article inclusive of sales tax (under VAT) at 8%, find :
(i) the printed price of the article
(ii) the profit percentage of the retailer.
Solution:

ML Aggarwal Class 10 Solutions for ICSE Maths

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

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:

Question 2.
VAT paid by the wholesaler is
(a) ₹ 96
(b) ₹ 14.40
(c) ₹ 110.40
(d) ₹ 180
Solution:

Question 3.
VAT paid by the retailer
(a) ₹ 180
(b) ₹ 110.40
(c) ₹ 96
(d) ₹ 14.40
Solution:

Question 4.
VAT collected by the Government on the sale of fan is
(a) ₹14.40
(b) ₹96
(c) ₹110.40
(d) ₹180
Solution:

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:

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:

Question 7.
VAT paid by the shopkeeper is
(a) ₹480
(b) ₹1440
(c) ₹1920
(d) ₹8000
Solution:

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:

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:

Question 10.
Cost of the computer to the retailer (excluding tax) is
(a) ₹36000
(b) ₹40000
(c) ₹43200
(d) ₹47520
Solution:

Question 11.
Cost of the computer to the retailer inclusive of tax is
(a) ₹47520
(b) 43200
(c) 44000
(d) none of these
Solution:

Question 12.
VAT paid by the manufacturer is
(a) ₹4000
(b) ₹4320
(c) ₹320
(d) none of these
Solution:

Question 13.
VAT paid by the wholesaler is
(a) ₹4000
(b) ₹4320
(c) ₹320
(d) ₹480
Solution:

Question 14.
VAT paid by the retailer is
(a) ₹4000
(b) ₹4320
(c) ₹320
(d) ₹480
Solution:

Question 15.
Consumer’s cost price inclusive of VAT is
(a) ₹47520
(b) ₹48000
(c) ₹52800
(d) ₹44000
Solution:

ML Aggarwal Class 10 Solutions for ICSE Maths

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 Ex 1

Question 1.
A manufacturing company sells a T.V. to a trader A for ₹ 18000. Trader A sells it to a trader B at a point of ₹ 750 and trader B sells it to a consumer at a profit of ₹ 900. If the rate of sales tax (under VAT) is 10%, find
(i) the amount of tax received by the Government.
(ii) the amount paid by the consumer for the T.V.
Solution:

Question 2.
A manufacturer sells a washing machine to a wholesaler for ₹ 15000. The wholesaler sells it to a trader at a profit of ₹ 1200 and the trader sells it to a consumer at a profit of ₹ 1800. If the rate of VAT is 8%, find :
(i) The amount of VAT received by the State Government on the sale of this machine from the manufacturer and the wholesaler.
(ii) The amount that the consumer pays for the machine.
Solution:

Question 3.
A manufacturer buys raw material for ₹ 40000 and pays sales tax at the rate of 4%. He sells the ready stock for ₹ 78000 and charges sales tax at the rate of 7.5%. Find the VAT paid by the manufacturer.
Solution:

Question 4.
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 sales tax at the same rate. Find
(i) the price at which the camera can be bought.
(ii) the VAT (Value Added Tax) paid by the shopkeeper.
Solution:

Question 5.
The printed price of an article is ₹ 60000. The wholesaler allows a discount of 20% to the shopkeeper. The shopkeeper sells the article to the customer at the printed price. Sales tax (under VAT) is charged at the rate of 6% at every stage. Find:
(i) the cost to the shopkeeper inclusive of tax.
(ii) VAT paid by the shopkeeper to the Government.
(iii) the cost to the customer inclusive of tax.
Solution:

Question 6.
A shopkeeper bought a TV at a discount of 30% of the listed price of ₹ 24000. The shopkeeper offers a discount of 10% of the listed price to his customer. If the VAT (Value Added Tax) is 10%, find the amount paid by the customer, the VAT to be paid by the shopkeeper.
Solution:

Question 7.
A shopkeeper sells an article at the listed price of ₹ 1500 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 amount inclusive of tax at which the shopkeeper purchased the articles from the wholesaler?
Solution:

Question 8.
A shopkeeper buys an article whose list price is ₹ 800 at some rate of discount from a wholesaler. He sells the article to a consumer at the list price and charges sales tax at the prescribed rate of 7.5%. If the shopkeeper has to pay a VAT of ₹ 6, find the rate of discount at which he bought the article from the wholesaler.
Solution:

Question 9.
A manufacturing company ‘P’ sells a Desert cooler to a dealer A for ₹ 8100 including sales tax (under VAT). The dealer A sells it to a dealer B for ₹ 8500 plus sales tax and the dealer B sells it to a consumer at a profit of ₹ 600. If the rate of sales tax (under VAT) is 8%, find
(i) the cost price of the cooler for dealer A.
(ii) the amount of tax received by the Government.
(iii) the amount which the consumer pays for the cooler.
Solution:

Question 10.
A manufacturer marks an article for ₹ 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 and at each stage, the VAT is 8%.
Calculate the amount of VAT received by the Government from :
(i) the wholesaler.
(ii) the retailer.
Solution:

Question 11.
A manufacturer listed the price of his goods at ₹ 160 per article. He allowed a discount of 25% to a wholesaler who in his turn allowed a discount of 20% on the listed price to a retailer. The rate of sales tax on the goods is 10%. If the retailer sells one article to a consumer at a discount of 5% on the listed price, then find
(i) the VAT paid by the wholesaler.
(ii) the VAT paid by the retailer.
(iii) the VAT received by the Government.
Solution:

Question 12.
Kiran purchases an article for ₹ 5, 400 which includes 10% rebate on the marked price and 20% sales tax (under VAT) on the remaining price. Find the marked price of the article.
Solution:

Question 13.
A shopkeeper buys an article for ₹ 12000 and marks up its price by 25%. The shopkeeper gives a discount of 10% on the marked up price. He gives a further off-season discount of 5% on the balance. But the sales tax (under VAT) is charged at 8% on the remaining price. Find :
(i) the amount of VAT which a customer has to pay.
(ii) the final price he has to pay for the article.
Solution:

Question 14.
In a particular tax period, Mr Sunder Dass, a shopkeeper purchased goods worth ₹ 960000 and paid a total tax of ₹ 62750 (under VAT). During this period, his sales consisted of taxable turnover of ₹ 400000 of goods taxable at 6% and ₹ 480000 for goods taxable at 12.5%. He also sold tax-exempted goods worth ₹ 95640 in the same period. Calculate his tax liability (under VAT) for this period.
Solution:

Question 15.
In the tax period ended March 2015, M/S Hari Singh & Sons purchased floor tiles worth ₹ 800000 taxable at 7.5% and sanitary fittings worth ₹ 750000 taxable at 10%. During this period, the sales turnover for floor tiles and sanitary fittings are worth ₹ 840000 and ₹ 920000 respectively. However, the floor tiles worth ₹ 60000 were returned by the firm during the same period. Calculate the tax liability (under VAT) of the firm for this tax period.
Solution:

ML Aggarwal Class 10 Solutions for ICSE Maths