MCQs
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A retailer purchases a fan for Rs 1500 from a wholesaler and sells t to a consumer at 10%profit if the sales are intra-state and the rate of GST is 12%, then choose the correct answer from the given four options for questions 1 to 6:
Question 1
The selling price of the fan by the retailer (excluding tax) is?
(a) Rs.1500
(b) Rs.1650
(c) Rs. 1848
(d) Rs. 1800
Sol :
Cost price of fan for retailer = ₹ 1500
Question 2
The selling price of the fan including tax (under GST) by retailer is?
(a) Rs.1650
(b) Rs.1800
(c) Rs.1848
(d) Rs.1830
Sol :
Given, GST (rate) = 12%
∴GST=12% of S.P
$=\left(\frac{12}{100}\times 1650\right)=198$
Question 3
The tax (under GST) paid by the wholesaler to the Central Government is ?
(a)Rs 90
(b)Rs 9
(c)Rs 99
(d) Rs 180
Sol :
The tax (under GST) paid by wholesaler to Central Government
=6% of 1500
$=\left(\frac{6}{100}\times 1500\right)$
=90
Question 4
The tax (under GST) paid by the retailer to the State Government ?(a) Rs 99
(b) Rs 9
(c)Rs 18
(d)Rs 198
Sol :
Amount of input SGST of the retailer = 6% of ₹ 1500
$=\left(\frac{6}{100}\times 1500\right)$
Amount of tax (under GST) paid by retailer to State Government = Output SGST – Input SGST
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Question 5
The tax (under GST) received by the Central Government is ?
(a)Rs 18
(b) Rs 198
(c) Rs 90
(d)Rs 99
Sol :
Amount of CGST paid by the retailer = Output CGST – Input CGST
= ₹ (99-90) = ₹9
Thus, amount of tax (under GST) received by Central Government
= CGST paid by distributor + CGST paid by retailer
= (6% of ₹1500) + 9
= 90 + 9 = ₹99
Question 6
The cost of the fan to the consumer inclusive of tax is ?
(a)Rs 1650
(b) Rs 1800
(c)Rs 1830
(4) Rs 1848
Sol :
Here, selling price of fan = ₹1650
GST on fan = 12% of ₹1650
$=\left(\frac{12}{100}\times 1650\right)$
=198
A shopkeeper bought a TV from a distributor at a discount of 25% of the listed price of Rs 32000. The shopkeeper sells the TV to a consumer at the listed price. if the sales are intra-state and the rate of GST la 18%, then choose the correct er from the given four options for questions 7 to 11:
Question 7
The selling price of the TV including tax (under GST?) by the distributor is?
(a) Rs 32000
(b) Rs 24000
(c) Rs 28320
(4) Rs 26160
Sol :
It is case of intra state
Discount = 32000 x 25/100
= 8000
SP= 32000-8000
=24000
SP with GST by distributor
24000 + 24000 x 18/100
=28320
Hence option (c) is correct
Question 8
The tax (under GST) paid by the distributor to the State Government is
(a) Rs 4320
(b) Rs 2160
(c) Rs 2880
(d) Rs 720
Sol :
Tax (under GST) paid by distributor to the State Government
= SGST = 9% of ₹24000
$=\left(\frac{9}{100}\times 24000\right)$
=2160
Question 9
The tax (under GST) paid by the shopkeeper to the Central Government is?
(a)Rs 720
(b)Rs 1440
(c) Rs 2880
(4)Rs 2160
Sol :
Amount of input CGST by the shopkeeper,
CGST = ₹2160, SGST = ₹2160
Amount of GST collected by the shopkeeper or paid by the consumer
= 18% of ₹32000
$=\left(\frac{18}{100}\times 32000\right)$=5760
SGST = 5760/2 = ₹2880 = CGST
Amount of CGST paid by shopkeeper to Central Government = Output CGST – Input CGST
= 2880-2160 = ₹720
Question 10
The tax (under GST) received by the State Government is?
(a)Rs 5760
(b) Rs 4320
(c) Rs 1440
(d) Rs 2880
Sol :
Amount of SGST paid by Shopkeeper to state government = ₹ 720
∴ Total tax (under GST) received by State Government = ₹2160 +₹720 = ₹2880
Question 11
The price including tax (under GST) of the TV paid by the consumer is
(a)Rs 28320
(b) Rs 37760
(c) Rs 34880
(4) Rs 32000
Sol :
Consumer buy on list price 32000
It is a case of intra-state transaction of goods and services.
SGST = CGST = ½ GST
Given:
The price inclusive of tax (under GST) which the consumer pays for the TV.
CP of an article for shopkeeper = ₹32000
SP of article = ₹32000 + 18% of ₹32000
= ₹32000 + (18/100) × 32000
= ₹32000 + 5760
= 37760
Hence option (b) is correct
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