Practice Key Concepts - 1.1.1 | 1. Commercial Mathematics | ICSE Class 10 Maths
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1.1.1 - Key Concepts

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Define Goods and Services Tax.

💡 Hint: Think of it as a tax on sales.

Question 2

Easy

What does CGST stand for?

💡 Hint: It relates to the central government.

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 is GST?

  • A type of income tax
  • An indirect tax on goods and services
  • A flat tax on all products

💡 Hint: Think about how products are taxed when sold.

Question 2

CGST is collected by which government?

  • State government
  • Central government
  • Local government

💡 Hint: Remember the difference between state and central taxes.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company far away in another state sells its products for ₹25,000 to a local shop. If the IGST rate is 12%, calculate the total GST and the amount the local shop will need to pay.

💡 Hint: Calculate GST using the sales price and add it to determine the total.

Question 2

A trader buys goods for ₹50,000 with a CGST of 9% and SGST of 9%. If the total price including tax is his selling point, what is the selling price if he sells at a 10% profit?

💡 Hint: Determine the GST first, then calculate selling price including his desired profit.

Challenge and get performance evaluation