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Vidaara.orgClass 8 · Mathematics
CodeVID-M08-21-TAX-01
Tax & Financial Literacy - Assignment
Chapter: Percentages
Topic: Tax Calculations and Financial Literacy
Maximum Marks: 35
Time: 75 minutes
Name: ____________________ Roll No.: __________ Date: ____________

General Instructions

  • All questions are compulsory.
  • Section A carries 1 mark each, Section B 2 marks, Section C 3 marks and Section D 5 marks.
  • Show all working for Sections B, C and D. Only final answers are given at the end — for full solutions, raise your doubts with your teacher.
Section A — Multiple Choice Questions 5 × 1 = 5 marks
1.
Tax is money paid to the:
  • A.shopkeeper
  • B.government
  • C.bank
  • D.customer
2.
GST is ___ to the price.
  • A.subtracted
  • B.added
  • C.divided
  • D.equal
3.
Amount with tax $=$
  • A.price $-$ tax
  • B.price $+$ tax
  • C.price $\times$ tax
  • D.tax $-$ price
4.
To save, income should be ___ expenses.
  • A.less than
  • B.at least equal to
  • C.zero
  • D.negative
5.
A budget plans income and:
  • A.taxes only
  • B.spending
  • C.profit
  • D.discount
Section B — Short Answer (2 marks) 4 × 2 = 8 marks
6.
Find $5\%$ GST on Rs $200$.
7.
A Rs $1000$ item with $10\%$ GST costs:
8.
Find $12\%$ tax on Rs $500$.
9.
If income is Rs $20000$ and expense Rs $15000$, find the savings.
Section C — Short Answer (3 marks) 4 × 3 = 12 marks
10.
An item costs Rs $800$ plus $18\%$ GST. Find the total price.
11.
Find $8\%$ tax on a Rs $2500$ purchase.
12.
A Rs $1500$ item has $12\%$ GST. Find the total.
13.
Monthly income Rs $30000$, expenses Rs $22000$. Find the percentage saved.
Section D — Long Answer (5 marks) 2 × 5 = 10 marks
14.
A laptop is priced at Rs $40000$ plus $18\%$ GST. Find the GST and the total amount payable.
15.
A family earns Rs $50000$ per month and spends Rs $38000$. Find the monthly savings and express it as a percentage of income.

Answer Key

Section A — Multiple Choice Questions
  1. (B) government
  2. (B) added
  3. (B) price $+$ tax
  4. (B) at least equal to
  5. (B) spending
Section B — Short Answer (2 marks)
  1. Rs $10$.
  2. Rs $1100$.
  3. Rs $60$.
  4. Rs $5000$.
Section C — Short Answer (3 marks)
  1. Rs $944$.
  2. Rs $200$.
  3. Rs $1680$.
  4. $\approx26.67\%$.
Section D — Long Answer (5 marks)
  1. GST Rs $7200$; total Rs $47200$.
  2. Savings Rs $12000$; $24\%$.
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