Exam Questions & Step-by-Step Markschemes (12 Problems)
Question 1 • 2024
4 Marks
A retailer buys a washing machine from a wholesaler for ₹24,000. The retailer marks up the price by 25% and sells it to a consumer at a discount of 10% on the marked price. If the rate of GST is 18%, calculate: (a) The marked price of the washing machine. (b) The price paid by the consumer including GST. (c) The CGST and SGST paid by the retailer to the government.
Answer: (a) ₹30,000, \ (b) ₹31,860, \ (c) \text{CGST} = ₹270, \text{ SGST} = ₹270
Question 2 • 2024
4 Marks
A dealer in Mumbai (Maharashtra) buys an article with a marked price of ₹25,000 from a wholesaler at a discount of 20%. The dealer sells it to an end consumer in Pune (Maharashtra) at 10% profit on the marked price. If the GST rate is 18%, calculate: (i) The price paid by the dealer including GST. (ii) The total amount paid by the consumer. (iii) The net CGST and SGST payable by the dealer to the Government.
Answer: (i) ₹23,600 \quad (ii) ₹32,450 \quad (iii) \text{CGST} = ₹675, \; \text{SGST} = ₹675
Question 3 • 2024
4 Marks
Priya opened a Recurring Deposit account in a nationalized bank for 2 years (24 months). If she deposits ₹1,500 per month and receives ₹39,750 as the maturity value at the end of the period, find: (i) The total interest earned by Priya. (ii) The rate of interest per annum offered by the bank.
Answer: (i) \text{Interest} = ₹3,750 \quad (ii) \text{Rate} = 10\% \text{ p.a.}
Question 4 • 2024
4 Marks
A dealer in Mumbai buys a TV at marked price ₹ 25,000 at a discount of 20\% . He sells it to a consumer at a profit of 15\% on his cost price. If GST rate is 18\% , calculate: (i) Price paid by consumer including GST. (ii) SGST received by State Government.
Answer: (i) \ ₹27,140 \quad (ii) \ ₹2,070
Question 5 • 2024
3 Marks
Priya has a recurring deposit account for 2 years at 9\% p.a. simple interest. If she receives ₹ 3,330 as interest at maturity, find: (i) Monthly installment P . (ii) Total maturity amount.
Answer: (i) \ P = ₹1,480 \quad (ii) \ \text{MV} = ₹38,850
Question 6 • 2024
4 Marks
A man invests ₹ 9,600 on ₹ 100 shares at ₹ 80 . If the company pays him 18\% dividend, find: (i) The number of shares he buys. (ii) His annual dividend income. (iii) The percentage return on his investment.
Answer: (i) \ 120 \text{ shares} \quad (ii) \ ₹2,160 \quad (iii) \ 22.5\%