Practice Key Concepts (1.2.1) - Commercial Mathematics

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9 questions

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4 cards from this section. Quick, good the night before a test.
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6 questions · about 4 min · pass mark 70%. Hints available.
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Quiz
3 questions · about 2 min · pass mark 70%. Hints available.
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6 sample questions

Question 1.
What is GST?
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Think about what taxes apply to goods and services.
Question 2.
Define the term 'share'.
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Consider what it means to own part of a company.
3Question 3.
What does CGST represent?
- A) Central Government Services Tax
- B) Central Goods and Services Tax
- C) City Goods and Services Tax
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Focus on what central tax refers to within GST.
4Question 4.
True or False: Yield is the return on investment expressed as a percentage of the market value.
- True
- False
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Consider how yield is determined when investing in shares.
Question 5.
Imagine a person buys goods for ₹20,000 with a GST of 18% and sells them for ₹25,000. Calculate the net GST payable and the profit earned on this transaction.
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Break this problem into calculating input/output GST first, then find profit.
Question 6.
A recurring deposit account allows a deposit of ₹1,500 a month for 10 months at an annual interest rate of 6%. What is the total interest earned at maturity?
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Use the RD interest formula and carefully calculate each step.

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