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A Shopkeeper charges sales tax of x% upto Rs.2,000 and above it he charges y%. A customer pays total tax of Rs 320, when he purchases the goods worth Rs. 6,000 and he pay's the total tax of Rs. 680 for the goods worth Rs. 12,000. The value of (x-y) is:

Correct Answer: -2

          2000xX100 + 4000xY100 = 320

 

and     2000xX100 + 10000xY100 = 680

 

x = 4  and  y = 6

 

x-y = -2

Which of the following components are true about tax planning?
1. Tax planning is the process of analyzing a financial plan or a situation from a tax perspective.
2. The objective of tax planning is to make sure there is tax efficiency. With the help of tax planning, one can ensure that all elements of a financial plan can function together with maximum tax-efficiency.
3. Reducing tax liability and increasing the ability to make contributions towards retirement plans are critical for success.
4. Tax planning comprises various considerations such as size, the timing of income, timing of purchases, and planning are concerned with other kinds of expenditures.
5. The chosen investments and the various retirement plans should go hand-in-hand with the tax filing status as well as the deductions in order to create the best possible outcome.

A lady buys goods worth Rs. 200 from a shop. (shopkeeper is selling the goods with zero profit). The lady gives him a Rs. 1000 note. The shopkeeper gets the change from the next shop and keeps Rs. 200 for himself and returns Rs.800 to the lady. Later the shopkeeper of the next shop comes with the Rs.1000 note saying “duplicate” and takes his money back.How much LOSS did the shopkeeper face?

A passenger paid 50% customs duty on accompanied baggage items. He paid another 20% sales tax on the total value of the items plus the custom duty paid. The total custom duty and sales tax is Tk. 350. what is the value of the item custom duty and sales tax?

A certain company that sells only cars and trucks reported that revenues from car sales in 1997 were down 11 percent from 1996 and revenues from truck sales in 1997 were up 7 percent from 1996. If total revenues from car sales and truck sales in 1997 were up 1 percent from 1996, what is the ratio of revenue from car sales in 1996 to revenue from truck sales in 1996?

A lady buys grocery worth Rs. 350 from a shop. The shopkeeper is selling the goods with zero profit.
The lady gives him Rs. 2000 note. The shopkeeper gets the change from the next shop, keeps 350 for himself and returns Rs.1650 to the lady.
Later, the shopkeeper of the next shop comes with Rs. 2000 note saying that it is a duplicate note and takes his money back.
How much loss did the shopkeeper face?

There are two shopkeepers, first shopkeeper calculates his profit percent on the selling price whereas the second shopkeeper calculates his profit percent on the cost price. If the selling price for both the shopkeeper is same and the difference between their profits is Rs.175. Then, calculate the sum of the cost price for both the shopkeeper if the profit percent for the both shopkeeper is 25%?

Kamal went to a shop and bought things worth Tk 25, out of which 30 pasa went on sales tax on taxable purchases. If the tax rate was 6%, then what was the cost of the tax free items?

Kamal went to a shop and bought things worth Tk 25, out of which 30 paisa went on sales tax on taxable purchases. If the tax rate was 6%, then what was the cost of the tax free items?

Gauri went to the stationers and bought things worth Rs. 25, out of which 30 paise went on sales tax on taxable purchases. If the tax rate was 6%, then what was the cost of the tax free items?

"BDL Ltd. is currently preparing its cash budget for the year to 31 March 20XX. An extract from its sales budget for the same year shows the following sales values.
Rs
March 60,000
April 70,000
May 55,000
June 65,000
40% of its sales are expected to be for cash. Of its credit sales, 70% are expected to pay in month after sale and take a 2% discount. 27% are expected to pay in the second month after the sale, and the remaining 3% are expected to be bad debts. The value of sales budget to be shown in the cash budget for May 20XX is"