Practice Formulas - 1.1.2 | 1. Commercial Mathematics | ICSE Class 10 Maths
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1.1.2 - Formulas

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Calculate the GST on a taxable amount of ₹20,000 at 10%.

💡 Hint: Use the formula GST = Taxable Amount × GST Rate.

Question 2

Easy

If the cost price is ₹5,000 and GST is ₹500, what is the final price?

💡 Hint: Final price is the cost price plus GST.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does GST stand for?

  • Goods and Services Tax
  • General Sales Tax
  • Global Sales Tax

💡 Hint: Think about what taxes apply to goods and services.

Question 2

True or False: Input Tax Credit reduces the net GST payable.

  • True
  • False

💡 Hint: Consider how businesses manage the taxes they pay.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A wholesaler sells goods worth ₹50,000 with a GST rate of 18%. Calculate how much GST is due, and if they bought the goods for ₹40,000 with 18% GST paid. What is the net GST payable?

💡 Hint: Find the GST for both sales and purchases using the formula.

Question 2

If a business sells products for ₹100,000 inclusive of 15% GST and purchases supplies for ₹80,000 plus 15% GST, calculate the total tax amount collected and the net GST liability.

💡 Hint: Use the formulas to determine GST collected and payable.

Challenge and get performance evaluation