ICSE Class 10 Mathematics
Practice Test 1 Maximum
Marks: 50
Chapters:
1. Goods and Services Tax (GST)
2. Banking
3. No calculator is permitted
4. Any kind of malpractice would be punished.
5. No extra time will be provided
Section A: Multiple Choice Questions (1 mark each)
[3 × 1 = 3 Marks]
Attempt all questions
1. A product is sold from Delhi to Punjab for ₹50,000 at 18% GST. What is the IGST?
a) ₹9,000
b) ₹4,500
c) ₹6,000
d) ₹8,000
2. The compound interest on ₹10,000 at 10% p.a. compounded annually for 2 years is:
a) ₹2,000
b) ₹2,100
c) ₹2,200
d) ₹2,010
3. If ₹5,000 is deposited for 3 years at 5% simple interest, what is the total amount received at the end?
a) ₹5,750
b) ₹5,800
c) ₹5,900
d) ₹5,700
4. A sum of ₹25,000 is invested for 3 years at 8% per annum compounded annually. What is the total
amount after 3 years?
a) ₹29,920
b) ₹29,712
c) ₹28,800
d) ₹27,700
5. A dealer in Kolkata sells goods worth ₹50,000 to a customer within the same state. The GST charged is
18%. What is the amount of GST the dealer will collect from the customer?
a) ₹6,500
b) ₹9,000
c) ₹8,500
d) ₹7,000
6. A wholesaler sells goods worth ₹30,000 to a retailer at a 10% profit. The retailer then adds a 20% profit
and sells it to a customer. GST at 18% is applied at both stages. What is the final amount the customer pays,
including GST?
a) ₹42,120
b) ₹45,000
c) ₹43,560
d) ₹40,800
7. A loan of ₹15,000 is taken at 10% simple interest for 2 years. How much interest is paid at the end of the
2 years?
a) ₹3,000
b) ₹2,500
c) ₹1,800
d) ₹2,000
8. In a bank’s recurring deposit scheme, a person deposits ₹1,200 every month for 2 years at an interest rate
of 6% per annum. What is the total maturity amount, including interest?
a) ₹30,000
b) ₹31,500
c) ₹32,000
d) ₹33,000
Section B: Short Answer Questions (3 marks each)
[4 × 3 = 12 Marks]
Attempt all questions
4. A trader sells goods worth ₹60,000 within the same state at 12% GST. Calculate:
a) CGST
b) SGST
c) Total bill amount
5. A person deposits ₹25,000 at 8% p.a. compound interest for 2 years. Calculate the amount and compound
interest.
6. A person invests ₹20,000 in a scheme offering compound interest at 12% per annum, compounded
quarterly. Calculate the amount and interest earned at the end of 2 years. Also, if the amount is withdrawn
after 2 years, how much GST will be applicable if GST is 18% on the earned interest?
7. A manufacturer sells goods worth ₹30,000 to a wholesaler. The wholesaler sells to the retailer adding
10% profit, and the retailer sells it to a customer adding 15% profit. GST is 18%. Find the final amount paid
by the customer.
Section C: Long Answer Questions (5 marks each)
[All questions must be attempted 5 × 5 = 20 Marks]
8. A person borrows ₹40,000 at 10% compound interest, compounded annually for 2 years.
a) Find the amount after 2 years.
b) Find the interest paid in the second year only.
9. Goods worth ₹75,000 are sold from Mumbai to Chennai. GST is charged at 18%.
a) Calculate the IGST.
b) Find the final invoice amount.
c) Who receives the tax – Central or State government?
10. A person deposits ₹20,000 at 7% p.a. compound interest, compounded annually. Find the amount and
compound interest for 3 years (use multiplication method).
11. The selling price of goods is ₹90,000. GST is 12%.
a) Calculate CGST and SGST.
b) Find total bill amount.
c) How much tax is collected by the State government?
12. A man took a loan of ₹50,000 at 9% per annum simple interest. After 4 years, he repaid the loan.
a) Find total interest paid.
b) What was the total repayment amount?
c) What percent of the repayment is interest?
13. A bank offers a recurring deposit scheme where ₹2,000 is deposited every month for 2 years at an annual
interest rate of 7%. Calculate:
The total amount deposited.
The total interest earned.
The maturity amount.
Also, if the bank deducts a 10% tax on the interest earned, what will be the final amount after tax?
Section D: Competency-Based Questions (5 marks each)
[Any 2 out of 3 – 2 × 5 = 10 Marks]
13. A shopkeeper in Bengaluru purchases a washing machine with a listed price of ₹20,000 and receives a
10% discount. He sells it to a customer in the same state at a profit of 15% on cost. GST is 18%.
a) Cost price after discount
b) Selling price before GST
c) CGST and SGST
d) Final bill amount paid
14. Mr. Sharma deposits ₹1,500 monthly in a recurring deposit account for 2 years at 6% p.a. simple
interest. Calculate:
a) Total amount deposited
b) Interest earned
c) Maturity value
d) If he wants a maturity value of ₹40,000, what should be his new monthly deposit?
15. A dealer in Mumbai sells a refrigerator to a retailer in Delhi at a listed price of ₹50,000 with 20%
discount. The retailer adds 25% profit and sells to a customer. GST is 12%.
a) Dealer’s selling price
b) IGST paid by retailer
c) Retailer’s price before GST
d) IGST charged to customer
e) Final bill amount
____PAIN OF DISCIPLINE IS BETTER THAN PAIN OF REGRET____