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Page 1 Financial Planning Practice Set 4.1 Q. 1. ‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 12 = 2x ? x = 6% Hence CGST, SGST = 6% Q. 2. On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST. ? CGST = SGST = 9% We know that GST = CGST + SGST. ? GST = 9% + 9% = 18% Q. 3. ‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice. Answer : Given rate of GST = 28% The taxable value of 1 tin = Rs.2800 Page 2 Financial Planning Practice Set 4.1 Q. 1. ‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 12 = 2x ? x = 6% Hence CGST, SGST = 6% Q. 2. On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST. ? CGST = SGST = 9% We know that GST = CGST + SGST. ? GST = 9% + 9% = 18% Q. 3. ‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice. Answer : Given rate of GST = 28% The taxable value of 1 tin = Rs.2800 ? Taxable value of 2 tins = Rs.5600 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 28 = 2x ? x = 14% Hence CGST, SGST = 14% = Rs.784 ? CGST = SGST ? SGST = Rs.784 Q. 4. The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is price of the belt for the customer? Answer : Given rate of GST = 18% Taxable value of wrist watch belt = Rs.586 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Page 3 Financial Planning Practice Set 4.1 Q. 1. ‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 12 = 2x ? x = 6% Hence CGST, SGST = 6% Q. 2. On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST. ? CGST = SGST = 9% We know that GST = CGST + SGST. ? GST = 9% + 9% = 18% Q. 3. ‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice. Answer : Given rate of GST = 28% The taxable value of 1 tin = Rs.2800 ? Taxable value of 2 tins = Rs.5600 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 28 = 2x ? x = 14% Hence CGST, SGST = 14% = Rs.784 ? CGST = SGST ? SGST = Rs.784 Q. 4. The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is price of the belt for the customer? Answer : Given rate of GST = 18% Taxable value of wrist watch belt = Rs.586 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 18 = 2x ? x = 9% Hence CGST, SGST = 9% = Rs.52.74 ? CGST = SGST ? SGST = Rs.52.74 We know that price of a customer = Taxable value + CGST + SGST ? Price of belt for customer = 586 + 52.74 + 52.74 = 691.48 Q. 5. The total value (with GST) of a remote-controlled toy car is Rs. 1770. Rate of GST is 18% on toys. Find the taxable value, CGST and SGST for this toy-car. Answer : We know that Total Value (with GST) = Taxable Value + GST Given total value (with GST) = Rs. 1770 Let taxable value = x ? 1770 = x + 18% of x Page 4 Financial Planning Practice Set 4.1 Q. 1. ‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 12 = 2x ? x = 6% Hence CGST, SGST = 6% Q. 2. On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST. ? CGST = SGST = 9% We know that GST = CGST + SGST. ? GST = 9% + 9% = 18% Q. 3. ‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice. Answer : Given rate of GST = 28% The taxable value of 1 tin = Rs.2800 ? Taxable value of 2 tins = Rs.5600 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 28 = 2x ? x = 14% Hence CGST, SGST = 14% = Rs.784 ? CGST = SGST ? SGST = Rs.784 Q. 4. The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is price of the belt for the customer? Answer : Given rate of GST = 18% Taxable value of wrist watch belt = Rs.586 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 18 = 2x ? x = 9% Hence CGST, SGST = 9% = Rs.52.74 ? CGST = SGST ? SGST = Rs.52.74 We know that price of a customer = Taxable value + CGST + SGST ? Price of belt for customer = 586 + 52.74 + 52.74 = 691.48 Q. 5. The total value (with GST) of a remote-controlled toy car is Rs. 1770. Rate of GST is 18% on toys. Find the taxable value, CGST and SGST for this toy-car. Answer : We know that Total Value (with GST) = Taxable Value + GST Given total value (with GST) = Rs. 1770 Let taxable value = x ? 1770 = x + 18% of x ? x = Taxable Value = Rs. 1500 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 18 = 2x ? x = 9% Hence CGST, SGST = 9% = Rs. 135 ? CGST = SGST ? SGST = Rs. 135 Page 5 Financial Planning Practice Set 4.1 Q. 1. ‘Pawan Medical’ supplies medicines. On some medicines the rate of GST is 12%, then what is the rate of CGST and SGST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 12 = 2x ? x = 6% Hence CGST, SGST = 6% Q. 2. On certain article if rate of CGST is 9% then what is the rate of SGST? and what is the rate of GST? Answer : We know that CGST and SGST are components of GST. CGST is always equal to SGST. ? CGST = SGST = 9% We know that GST = CGST + SGST. ? GST = 9% + 9% = 18% Q. 3. ‘M/s. Real Paint’ sold 2 tins of lustre paint and taxable value of each tin is Rs. 2800. If the rate of GST is 28%, then find the amount of CGST and SGST charged in the tax invoice. Answer : Given rate of GST = 28% The taxable value of 1 tin = Rs.2800 ? Taxable value of 2 tins = Rs.5600 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 28 = 2x ? x = 14% Hence CGST, SGST = 14% = Rs.784 ? CGST = SGST ? SGST = Rs.784 Q. 4. The taxable value of a wrist watch belt is Rs. 586. Rate of GST is 18%. Then what is price of the belt for the customer? Answer : Given rate of GST = 18% Taxable value of wrist watch belt = Rs.586 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 18 = 2x ? x = 9% Hence CGST, SGST = 9% = Rs.52.74 ? CGST = SGST ? SGST = Rs.52.74 We know that price of a customer = Taxable value + CGST + SGST ? Price of belt for customer = 586 + 52.74 + 52.74 = 691.48 Q. 5. The total value (with GST) of a remote-controlled toy car is Rs. 1770. Rate of GST is 18% on toys. Find the taxable value, CGST and SGST for this toy-car. Answer : We know that Total Value (with GST) = Taxable Value + GST Given total value (with GST) = Rs. 1770 Let taxable value = x ? 1770 = x + 18% of x ? x = Taxable Value = Rs. 1500 We know that CGST and SGST are components of GST. CGST is always equal to SGST i.e. GST = CGST + SGST Let CGST and SGST be x. Then GST = x + x ? 18 = 2x ? x = 9% Hence CGST, SGST = 9% = Rs. 135 ? CGST = SGST ? SGST = Rs. 135 Q. 6. ‘Tiptop Electronics’ supplied an AC of 1.5 ton to a company. Cost of the AC supplied is Rs. 51,200 (with GST). Rate of CGST on AC is 14%. Then find the following amounts as shown in the tax invoice of Tiptop Electronics. (1) Rate of SGST (2) Rate of GST on AC (3) Taxable value of AC (4) Total amount of GST (5) Amount of CGST (6) Amount of SGST Answer : Given rate of CGST of AC = 14% (1) We know that CGST and SGST are components of GST. CGST is always equal to SGST. ? SGST = 14% (2) We know that GST = CGST + SGST. GST = 14% + 14% = 28% (3) We know that Total Value (with GST) = Taxable Value + GST Given total value (with GST) = Rs. 51, 200 Let taxable value = x ? 51200 = x + 28% of x ? x = Taxable Value = Rs. 40, 000Read More
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FAQs on Textbook Solutions: Financial Planning - Mathematics Class 10 (Maharashtra SSC Board)
| 1. What is financial planning and why is it important for individuals? |  |
Ans. Financial planning is the process of setting goals, assessing resources, and developing strategies to manage financial resources effectively. It is important for individuals because it helps them understand their financial situation, make informed decisions about spending and saving, prepare for future financial needs, and ensure a secure financial future.
| 2. What are the key components of a financial plan? | |
Ans. The key components of a financial plan typically include budgeting, saving, investing, insurance, tax planning, and retirement planning. Each of these components works together to help individuals achieve their financial goals and manage their resources wisely.
| 3. How can individuals create a budget as part of their financial planning? | |
Ans. To create a budget, individuals should start by tracking their income and expenses for a month. They can categorize their expenses into fixed (like rent or mortgage) and variable (like dining out or entertainment). Once they have a clear picture, they can set spending limits for each category and adjust as necessary to ensure they live within their means and allocate funds for savings.
| 4. What role does saving play in financial planning? | |
Ans. Saving is a crucial element of financial planning as it provides a safety net for emergencies and helps individuals reach their short-term and long-term financial goals. Regular saving can lead to wealth accumulation over time and offers financial security against unforeseen circumstances.
| 5. Why is it important to review and adjust a financial plan regularly? | |
Ans. It is important to review and adjust a financial plan regularly because individuals' financial situations, goals, and external economic conditions can change over time. Regular reviews ensure that the financial plan remains relevant and effective, helping individuals stay on track to achieve their objectives and adapt to any new challenges or opportunities.
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Sep 23, 2025
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