Tax 9-combined (2)

Tax 4:47 PM

Tuesday, June 30, 2020

formulas
Define VAT.
SP= CP+ Profit

Profit amount =SP- CP
Profit Amount =

Profit % =

SP= MP- Discount

Discount amount = MP -SP
Discount Amount =

Discount %=

VAT amount = SP with VAT- SP without VAT
VAT amount =

VAT % =

4) the marked price of a radio was Rs 1000. what will be the price o the radio, if 13% VAT was levied , after
allowing 10% discount on it ?
Solution
Marked price ( MP) =1000
VAT%= 12%
Discount %= 10
We have

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SP=900

5) Allowing 20% discount on the marked price of a watch , the value of the watch will be RS6328,
when a VAT of 13% is added , find its marked prices.
Solution
SP with VAT=6328
Dis%=20%
VAT%=13%

6) After allowing 5% discount on the marked price of a radio ,13% VAT is charged on it , then
its price become Rs 2147. How much amount was given in the discount ?
SP with VAT=
VAT%=13 %
Dis%=5%

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7) After 15% discount on the marked price of a cycle and 13% after VAT levied on
it its price was Rs 7684. What amount of VAT was levied ?
Solution ,
SP with VAT=7684
Dis%=15
VAT%=13%

8) a watch was bought for Rs 1200 . At what labeled price should it be sold to
gain also.

Solution
CP= 1200
Profit =

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Profit =
Discount = 20%
We have,

SP= 1600

MP

9)After allowing 20% discount on the marked price and then levying 10% VAT ,a radio
sold .if the buyer had paid Rs 320 for VAT ,how much had he got discount ?
Solution ,
VAT% = 10
Discount %= 20
VAT amount =320
we have,

VAT% of SP

10) The marked price of a bicycle is Rs 2000 . If the shopkeeper allow some discount and a
customer bought it for Rs 1921 including 13% VAT how much amount was given as the
discount?

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discount?
Solution ,
MP=2000
SP with VAT=1921
VAT%= 13
We have'
SP with VAT=

1921=

Discount =MP-SP
=2000-1700=300

11 b)
Discount %= 10
VAT%= 13%
SP with VAT = 5085

SP with VAT=

5085= SP

508500=113

SP = 4500

we have

VAT amount = VAT% of SP
=

12 ) a dealer sold a refrigerator for Rs 33900 including 13% VAT to retailor .
Find the original price of the retailor . If the retailer spend Rs 1100 on
transportation cost Rs 4000 on local tax and made 10000 profit and then
supply to the printing center ,how much did the costumer pay the VAT
amount and the net price with VAT ?
SOLUTION,

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SOLUTION,
We have

SP of dealer= CP of Retailor=30,000
Value added amount = CP+ Transportation cost + profit + local tax

=30000+1100+1000+ 5000
=46100
VAT amount =
=
final price paid by the costumer= VAT amount + VAT applicable amount

=5863+45100
=50963

113 ) A dealer sold a printing machine for Rs 47460 including 13% VAT If the retailer
spend Rs 2500 on transportation cost Rs 4000 on local tax and made 20% profit on the
original price and then supply to the printing center ,how much did the costumer pay the
VAT amount and the net price with VAT ?
SOLUTION,
We have

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SP of dealer= CP of Retailor=42000
Value added amount = CP+ Transportation cost + profit + local tax

=42000+2500+4000+20% of 42000
=56900
VAT amount =
=

=7397
final price paid by the costumer= VAT amount + VAT applicable amount

=7397+56900
15)
Here , taxable amount on purchase bills=1,00,000
Total amount of purchase bills with VAT=1,13,000
Total VAT amount on purchase =total amount of purchase - taxable amount of purchase

=1,13,000-1,00,000
=13,000

total amount on sales=213500
total amount on sales with VAT=241255

Total VAT amount on sales = 2,41,255-2,13,500
=27,755

Now , compare the total VAT on purchase and Total VAT on sales then 27,755>13000
additional VAT =27755-13000

=14755

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Commission

Thursday, June 25, 2020 5:01 PM

An agent gets the commission
Agent coordinates between the seller and buyers
Agents gets commission form the seller
Seller gets = SP- commission
Commission amount = commission % of SP

Gross amount = salary + commission

2 a) a man gets a commission of 8% on the sales which amounts to RS 1200. find the
commission amount
solution
Commission %= 8%
SP=1200
Commissions Amount =?
We have ,
Commission amount = commission % of SP

=
=
=960

3 a) a man gets a commission of 2.5% on the sales which amounts to RS 75000. how much
will the business man get from the sale?
solution
Commissions %= 2.5%
SP=75000
Commissions Amount =?
We have ,
Commission amount = commission % of SP

=
=
= 1875

Amount for the business men = total SP- commission

=75000-1875
=73125

4a) a man receive a monthly salary of Rs 8000 plus 5% commission on his total sales for the month . If his total

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4a) a man receive a monthly salary of Rs 8000 plus 5% commission on his total sales for the month . If his total
sales of the month is Rs 75000, what will be gross amount
Solution
Salary =8000
Commission %= 5%
SP=75000
Commissions Amount =?
We have ,
Commission amount = commission % of SP

=
=
= 3750
Gross amount = salary + commission
=8000+3750
=1175

5a) a broker receive Rs 7500 AS commission on the total sales of Rs 15000 . Fid the rate
of commission
Solution ,
Commission %=
SP=15000
Commission Amount =7500
We have ,
Commission amount = commission % of SP

is the comission rate

6a) a Sales manage is paid Rs 4000 per month as salary and commission of of the total sales is added to
the salary . Find the ajjual income if the sales amounts to Rs 6000000 in the year
Solution ,
Salary =4000 per month
Salary in year
Commissions %=
SP=6000000 in a year
Commissions Amount =?

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Commissions Amount =?
We have ,
Commissions amount = commission % of SP

=
=
= 20000
Gross amount = salary + commission
=48000+20000
=68000

7a) A sales agent is paid Rs 400 every month and commission of 0.8% on total
sales . IF he receive RS 5192 at the end of the month find the total sales
solution ,
Salary =400
commission%= 0.8%
Gross amount = 5192
gross amount = salary + commission
5192=4000+ commission
Commission = 5192-4000

=1192
we have ,
commission amount = commission % of SP

8 a) an agent sold some carpet at the rate of Rs 4500 enchased receive Rs 9000
as commission at 10 % find the number of carpets he sold
Solution ,
Commission amount = 9000
Commission rate = 10 %
we have
commission amount = commission %
9000 =10%

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9000 =10%
9000=
SP = 900000

Total cost = rate
900000= 4500

=

9a) a commission based salesman has a basic salary is Rs 35000 per month but he
makes 50,000 per moth month with the commission . If his commission was
calculated on the total with of Rs 7,50,000. find the commission rate .
Solution
Salary=35000
total income =50000
we have
total income = salary + commission
50000=35000+ commission
15000=commission
we have

commission amount = commission %
15000 = x %
15000 =

Q 10 a)
Rs 650,000 lies between the Rs 100000 and to 7,00,000
commission on 1,00,000=

=
=3000

commission on (650000-100000) =
=
=22000

Total income =52000

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Dividend to from .
to from
Sunday, June 28, 2020 4:51 PM decided

Formula ,
Dividend is the
Boush is the

2a) A school has 500000 share of Rs 100 share Mr Govinda has 5000 shares in the school . The
school earned RS 15,00,000 net profit in a year and board of directories decided to distributes
50% cash dividend to shareholders . How much does Govinda get as cash dividend ?
Solution ,
No of share =5,00,000
Profit =1,50,00,000
Dividend%=50%
We have ,

=50% of 1,50,00,000
= 7500000

Again

× dividend amount of each share

dividend amount of each share
Govinda has 5000 share

15

3a) a factory makes a profit of Rs 15,00,00,000 annually , it distributes 5%
of tis profit as a dividend among its 50,000 shareholders with equal number
of shares . Find the dividend receive by each share holders
Solution
No of share =50000

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No of share =50000
Profit =15,00,00,000
Dividend %=5%
We have ,

=5% of 1,50,00,000
= 7500000

Again

4a ) A factory makes a profit of Rs 10,00,000 per month . At the end of the year 5% of its
profit is distributed as a dividend among its 500 shareholders with equal number of share ,
find the dividend received by each share holder
Solution
No of share =500
Profit =10,00,000
Dividend % =5
We have ,

=5% of 10,00,000
= 60000

Again

× divident amount for each share

5A) a company makes a profit of Rs 1,50,00,000 annually . It distributes the
dividend to its 500 shareholders with equal numbers of shares , equally to
that each shareholders receive Rs 15000 as a dividend , find the dividend rate.
Solution ,
Profit =1,50,00,000
No of shares= 500
Dividend receive by each solders=15,000

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Dividend receive by each solders=15,000
We have ,
Dividend amount =
Dividend amount =

we have

Dividend amount =

7500000 =
7500000=

6a) An insurance company made a profit of Rs 5,00,00,000 last year . It distributes 4% of its
profit as a bonus among its employees equally so that each employee receive Rs 20000 as a
bonus. Find the numbers of employees .
Solution ,
Profit =5,00,00,000
No of employee= x
Dividend receive by each solders=20,000
We have ,
bonus amount = bonus % of profit

=

bonus amount =

2000000=20000
100=
Q 7a A travelled agency distributed 5% of its profit as a bonus among its 50
employees equally if the bonus received by each employee received is Rs 15000 as a
bonus find total profit
Solution
Bonus rate = 5%
No of employees = 50
Bonus received by each employee= 1500
Total profit =?
we have

total bonus = no of employee

Total bonus =50
=75000

Again we have
Total bonus = bonus% of the total profit
75000=

75000=

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75000=
1500000=total profit
Q 8 A company's profit increased from 25% to 35% and made a profit of Rs
3500000 .The factory decides to distributes 8% of its increased 10% equally
among 100 employee find the bonus that each employee will get?
Solution
35% of total profit = 35,00,000
total profit =
Increased profit =

=10,00,000
bonus amount = 8% of 10,00,000

=80000
bonus received by each employees=

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