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UP TGT Mathematics commercial mathematics Test Series - Part 1

A shopkeeper buys an item from a wholesaler for Rs. 20,000. He marks up the price by 20% and then sells it to a customer...

Type: MCQ • Marks: 1
A shopkeeper buys an item from a wholesaler for Rs. 20,000. He marks up the price by 20% and then sells it to a customer at a 10% discount. If GST rate is 12%, calculate the net GST paid by the shopkeeper to the government.
Options
A. 1) Rs. 288
B. 2) Rs. 192
C. 3) Rs. 216
D. 4) Rs. 240
Explanation
Purchase Price = Rs. 20,000 => Input Tax = 12% of 20000 = Rs. 2,400. Marked Price = 20000 + 20% = Rs. 24,000. Selling Price = 24000 - 10% = Rs. 21,600. Output Tax = 12% of 21600 = Rs. 2,592. Net GST = 2592 - 2400 = Rs. 192.
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