Maharashtra Board Class 10 Math Part – 1 Solution Chapter 4 Practice Set 4.1 – Financial Planning
Balbharati Maharashtra Board Class 10 Math Part – 1 Solution Chapter 4: Financial Planning. Marathi or English Medium Students of Class 10 get here Financial Planning full Exercise Solution.
Std | Maharashtra Class 10 |
Subject | Math Part 1 Solution |
Chapter | Financial Planning |
Practice Set | 4.1 |
Practice Set 4.1
(1) ‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST?
Solution:
GST on medicine = 12%
∴ rate of CGST = rate of SGST = GST/2
= 12/2
= 6%
(2) On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST?
Solution:
Given CGST = 9%
∴ SGST = CGST = 9%
∴ GST = 2×CGST
= 9×2
= 18%
(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:
Price o each tin of paint = ₹2800
Price of each tin of paint = 2×2800
= ₹5600
GST charged = 28%
∴ CGST = 28%/2 = 14%
∴ Total CGST = 14/100×5600 = ₹784
∴ CGST = SGST = ₹784
(4) The taxable value of a wrist watch belt is 586. Rate of GST is 18%. Then what is price of the belt for the customer?
Solution:
Given, Taxable value of the watch = ₹586
GST on it = 18%
∴ Total price of the watch,
= 586 + (18/100 × 586)
= 586 + 0.108 × 586
= 586 + 105.4
= ₹691.4
(5) The total value (with GST) of a remote-controlled toy car is ₹1770. Rate of GST is 18% on toys. Find the taxable value, CGST and SGST for this toy-car.
Solution:
Given, Total value of car = ₹1770
GST rate = 18%
∴ Let, taxable value of car be x.
∴ Total value of car = x + (18/100 × x)
Or, 1770 = x + 18x/100
Or, 1770 = 118x/100
Or, x = 1770 × 100/118
= ₹1500
∴ Total GST on it = 1770 – 1500
= ₹270
∴ Total CGST = 270/2 = ₹135
∴ CGST = SGST = ₹135
(6) ‘Tiptop Electronics’ supplied an AC of 1.5 ton to a company. Cost of the AC supplied is ₹51,200 (with GST). Rate of CGST on AC is 14%. Then find the following amounts as shown in the tax invoice of Tiptop Electronics.
(1) Rate of SGST
(2) Rate of GST on AC
(3) Taxable value of AC
(4) Total amount of GST
(5) Amount of CGST
(6) Amount of SGST
Solution:
Total cost of AC = ₹51200
CGST rate = 14% = SGST rate
∴ GST rate = 14×2 = 28%
∴ (1) rate of SGST = 14%
(2) Rate of GST = 28%
(3) Let, taxable value of AC be ₹ x
∴ Total cost of AC = x + (GST + x)
Or, 51200 = x + (28/100 × x)
Or, 51200 = 128x/100
Or, x = 51200×100/128
= 40000
(4) Total amount of GST = 51200 – 40000 = ₹11200
(5) Amount of CGST = 11200/2 = ₹5600
(6) Amount of SGST = CGST = ₹5600
(7) Prasad purchased a washing-machine from ‘Maharashtra Electronic Goods’. The discount of 5% was given on the printed price of ₹40,000. Rate of GST charged was 28%. Find the purchase price of washing machine. Also find the amount of CGST and SGST shown in the tax invoice.
Solution:
Painted price of washing machine = ₹40000
Discount = 5%
∴ Total taxable amount = 40000 – (5/100×40000)
= 40000 – 2000
= ₹38000
GST rate = 28%
∴ Amount to be paid = 38000 + (x/100×38000)
= 38000 + 10640
= ₹48640
∴ CGST rate = GST/2 = 28/2 = 14%
∴ Amount of CGST = Amount SGST
= 14/100×38000
= ₹5320
Here is your solution of Maharashtra Board Class 10 Math Part 1 Chapter 4 Financial Planning Practice Set 4.1
Dear Student, I appreciate your efforts and hard work that you all had put in. Thank you for being concerned with us and I wish you for your continued success.