Chapter 1 · Class 10 ICSE · MCQ Test

Commercial Mathematics (Banking & GST) MCQ Test — Class 10 ICSE

Practice 10 multiple-choice questions with instant answer reveal and explanations.

Commercial Mathematics (Banking & GST) — MCQ Questions

1A shopkeeper buys an article for Rs 500 and sells it for Rs 600. What is his profit percentage?

A.10%
B.15%
C.20%
D.25%
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Answer: 20%

Hint: Profit % = (Profit / Cost Price) x 100.

Solution:

Find the profit: — Profit = SP - CP = 600 - 500 = Rs 100

Calculate profit percentage: — Profit % = (100 / 500) x 100 = 20%

2The marked price of a shirt is Rs 1200. A discount of 10% is given. What is the selling price?

A.Rs 1080
B.Rs 1100
C.Rs 1000
D.Rs 1120
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Answer: Rs 1080

Hint: Selling Price = Marked Price - Discount.

Solution:

Calculate the discount: — Discount = 10% of 1200 = (10/100) x 1200 = Rs 120

Find selling price: — SP = MP - Discount = 1200 - 120 = Rs 1080

3GST on a product is 18%. If the listed price is Rs 2000, what is the total amount paid by the consumer?

A.Rs 2180
B.Rs 2360
C.Rs 2200
D.Rs 2400
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Answer: Rs 2360

Hint: Total amount = Listed price + GST amount.

Solution:

Calculate GST amount: — GST = 18% of 2000 = (18/100) x 2000 = Rs 360

Total amount: — Total = 2000 + 360 = Rs 2360

4A man deposits Rs 5000 per month in a recurring deposit account for 12 months at 6% p.a. simple interest. What is the total deposit?

A.Rs 50000
B.Rs 55000
C.Rs 60000
D.Rs 65000
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Answer: Rs 60000

Hint: Total deposit = Monthly installment x Number of months.

Solution:

Total deposit = Monthly installment x Number of months

Calculate: — Total = 5000 x 12 = Rs 60000

5A person buys 50 shares of face value Rs 100 at Rs 120 each. What is the total investment?

A.Rs 5000
B.Rs 6000
C.Rs 7000
D.Rs 5500
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Answer: Rs 6000

Hint: Investment = Number of shares x Market value per share.

Solution:

Investment is calculated using market value (not face value):

Calculate: — Investment = 50 x 120 = Rs 6000

6The rate of GST on a laptop is 18%. If the price before GST is Rs 40000, find the CGST.

A.Rs 3600
B.Rs 7200
C.Rs 1800
D.Rs 5400
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Answer: Rs 3600

Hint: CGST = Half of total GST (for intra-state transactions).

Solution:

For intra-state supply, GST is split equally into CGST and SGST.

CGST rate = GST rate / 2: — CGST rate = 18% / 2 = 9%

Calculate CGST: — CGST = 9% of 40000 = Rs 3600

7A company declares a dividend of 8%. If the face value of a share is Rs 100, what is the dividend per share?

A.Rs 4
B.Rs 8
C.Rs 10
D.Rs 12
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Answer: Rs 8

Hint: Dividend is always calculated on the face value of the share.

Solution:

Dividend per share = Dividend % x Face value

Calculate: — Dividend = 8% of 100 = Rs 8

8Simple interest on Rs 8000 at 10% p.a. for 2 years is:

A.Rs 800
B.Rs 1200
C.Rs 1600
D.Rs 2000
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Answer: Rs 1600

Hint: SI = (P x R x T) / 100.

Solution:

Use the simple interest formula: — SI = (P x R x T) / 100

Substitute values: — SI = (8000 x 10 x 2) / 100 = Rs 1600

9A dealer in Delhi sells goods worth Rs 10000 to a consumer in Delhi. If GST is 12%, what is the total bill amount?

A.Rs 10600
B.Rs 11000
C.Rs 11200
D.Rs 12000
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Answer: Rs 11200

Hint: Total bill = Price + GST amount.

Solution:

Calculate GST: — GST = 12% of 10000 = Rs 1200

Total bill: — Total = 10000 + 1200 = Rs 11200

10What is the maturity value of a recurring deposit of Rs 2000 per month for 6 months if the interest earned is Rs 210?

A.Rs 12000
B.Rs 12210
C.Rs 12420
D.Rs 11790
Show Answer+

Answer: Rs 12210

Hint: Maturity value = Total deposit + Interest.

Solution:

Total deposit: — Total = 2000 x 6 = Rs 12000

Maturity value: — MV = 12000 + 210 = Rs 12210

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Tips for Commercial Mathematics (Banking & GST) MCQs

  • 1Read each question carefully and identify what is being asked before looking at the options.
  • 2Try to solve the problem mentally or on paper first, then match your answer with the options.
  • 3Use elimination — rule out clearly wrong options to improve your chances even when unsure.
  • 4Check units, signs, and edge cases — these are common traps in Commercial Mathematics (Banking & GST) MCQs.
  • 5Review your mistakes after completing the test to build lasting understanding.

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