Practice Commercial Mathematics (1) - Commercial Mathematics

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8 questions

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6 sample questions

Question 1.
What does GST stand for?
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It's an indirect tax.
Question 2.
What is a recurring deposit account?
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Consider how you save money regularly.
3Question 3.
What is the total GST on goods worth ₹25,000 at a rate of 18%?
- ₹4,500
- ₹3,600
- ₹4,800
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Think about the calculation: Total amount multiplied by GST rate.
4Question 4.
True or False: Input Tax Credit can be claimed for the GST you pay on purchases.
- True
- False
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Consider how GST functions from supplier to customer.
Question 5.
A company sells a product for ₹50,000 and charged 18% GST. Calculate the total amount receivable after tax.
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Remember to add GST to the selling price.
Question 6.
If you have ₹1,500 saved in an RD at an annual interest rate of 6% over 6 months, what will the total maturity value be?
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Make sure to use the formula for interest and add it to your total deposits.

4 more questions in this section. Enroll free to practise them all.