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Chapter: Financial Planning· Mathematics Part 1 (Algebra)

Asked in: March 2024 board paperQ.9 The total value (with GST) of remote controlled toy car is ₹ 2360. Rate of GST is 18% on toys. Complete the following activity to find the taxable value for the toy car:Activity:Total value for toy car with GST = ₹…

Asked in: March 2024 board paper

Q.9 The total value (with GST) of remote controlled toy car is ₹ 2360. Rate of GST is 18% on toys. Complete the following activity to find the taxable value for the toy car:

Activity:
Total value for toy car with GST = ₹ 2360.
Rate of GST = 18%
Let taxable value for toy car be ₹ \(x\)
\(\therefore \text{GST} = \dfrac{18}{100} \times x\)
\(\therefore\) Total value for toy car = (taxable value for toy car) + ____ ...... Formula
\(\therefore\) 2360 = ____ + \(\dfrac{\text{____}}{100} \times x\)
\(\therefore\) 2360 = \(\dfrac{\text{____}}{100} \times x\)
\(\therefore 2360 \times 100 = 118x\)
\(\therefore x = \dfrac{2360 \times 100}{\text{____}}\)
\(\therefore\) Taxable value for toy car is ₹ ____

1 answer

Best answer

Answer: Taxable value of the toy car = ₹ 2,000

Total value = taxable value + GST

\(2360 = x + \dfrac{18}{100}x\)

\(2360 = \dfrac{118}{100}x\)

\(2360 \times 100 = 118x\)

\(x = \dfrac{2360 \times 100}{118} = 2000\)

Blanks in order: GST, \(x\), 18, 118, 118, 2000.

Check: GST = 18% of 2000 = 360, and 2000 + 360 = 2360.

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