ICSE Class 10 · Mathematics

Class 10 Mathematics – Commercial Mathematics Practice Paper

A chapter-wise practice assessment for ICSE Class 10 Mathematics, covering GST, banking (recurring deposits) and shares and dividends. It includes MCQs, short-answer and application questions, with a full answer key and step-by-step model solutions.

Class
10
Subject
Mathematics
Topic
Commercial Mathematics
Suggested Time
60 minutes
Maximum Marks
40
Difficulty
Easy + Moderate + Challenging
Note
This is a chapter-wise practice paper created by Vyasa Academy for the ICSE curriculum. It is not an official CISCE question paper. All questions are original.

General Instructions

  1. The question paper has 19 questions divided into four sections, carrying a total of 40 marks.
  2. Section A: Questions 1–8, one mark each (8 marks).
  3. Section B: Questions 9–12, two marks each (8 marks).
  4. Section C: Questions 13–16, three marks each (12 marks).
  5. Section D: Questions 17–19, four marks each (12 marks).
  6. All questions are compulsory. Write the full working wherever marks are awarded for method, not just the final answer.
  7. All currency amounts are in Indian Rupees (₹).

Section A – Multiple Choice Questions

8 questions × 1 mark = 8 marks

Each question below has four options (A, B, C, D). Choose the one correct answer.

1.

The GST on a taxable value of ₹8,000 at 18% is:

1 Mark
  • A. ₹144
  • B. ₹1,440
  • C. ₹14,400
  • D. ₹720
2.

For an intra-state sale with a GST rate of 18%, the CGST rate is:

1 Mark
  • A. 18%
  • B. 9%
  • C. 36%
  • D. 27%
3.

The interest on a recurring deposit of ₹500 per month for 12 months at 6% per annum is:

1 Mark
  • A. ₹195
  • B. ₹180
  • C. ₹390
  • D. ₹156
4.

The number of shares of market value ₹25 each that can be bought for ₹5,000 is:

1 Mark
  • A. 20
  • B. 250
  • C. 200
  • D. 500
5.

The dividend per share on a share of face value ₹10 when the company declares a 15% dividend is:

1 Mark
  • A. ₹15
  • B. ₹1.50
  • C. ₹0.15
  • D. ₹150
6.

If the market value of a share is greater than its face value, the share is said to be bought:

1 Mark
  • A. at par
  • B. at a discount
  • C. at a premium
  • D. at a loss
7.

If \(P\) is the monthly instalment, \(n\) the number of months and \(I\) the interest, the maturity value of a recurring deposit is:

1 Mark
  • A. \(P \times n\)
  • B. \(P \times n + I\)
  • C. \(I\)
  • D. \(P \times n - I\)
8.

The rate of return on shares is calculated as:

1 Mark
  • A. \(\dfrac{\text{dividend}}{\text{face value}} \times 100\%\)
  • B. \(\dfrac{\text{dividend}}{\text{market value (investment)}} \times 100\%\)
  • C. \(\dfrac{\text{market value}}{\text{dividend}} \times 100\%\)
  • D. \(\dfrac{\text{face value}}{\text{dividend}} \times 100\%\)

Section B – Short Answer Questions

4 questions × 2 marks = 8 marks

9.

Find the GST charged on a taxable value of ₹12,500 at 12%.

2 Marks
10.

The price of an article including 18% GST is ₹5,900. Find its taxable value.

2 Marks
11.

Find the interest earned on a recurring deposit of ₹600 per month for 15 months at 8% per annum.

2 Marks
12.

Find the annual dividend on 250 shares of face value ₹20 each when the company declares a dividend of 10%.

2 Marks

Section C – Application Questions

4 questions × 3 marks = 12 marks

13.

The marked price of an article is ₹4,000. A shopkeeper offers a discount of 10% on the marked price and then charges GST at 18% on the discounted price. Find the amount the customer pays.

3 Marks
14.

A trader buys goods for ₹30,000 and sells them for ₹45,000 (both values before tax, both within the same state). If GST is 18%, find the net GST payable by the trader.

3 Marks
15.

Ms. Rao deposits ₹800 per month in a recurring deposit account for 2 years at 7.5% per annum. Find the interest earned and the maturity value.

3 Marks
16.

A man invests ₹18,000 in shares of face value ₹10 each, buying them at a market value of ₹12 per share. The company declares a dividend of 12%. Find his annual income and his rate of return.

3 Marks

Section D – Structured / Long Answer Questions

3 questions × 4 marks = 12 marks

17.

A dealer in Karnataka buys goods for ₹50,000 and sells them for ₹75,000 (both values before tax), with GST at 18% on each. Both transactions are within Karnataka. Find the input GST, the output GST, and the net CGST and net SGST payable to the government.

4 Marks
18.

A person deposits ₹750 per month in a recurring deposit account for 24 months and receives an interest of ₹1,575. Find the rate of interest per annum.

4 Marks
19.

A man buys 600 shares of face value ₹10 each at a premium of 25%. The company pays a dividend of 12%. After one year he sells all the shares at ₹11 each. Find his net gain or loss, including the dividend received.

4 Marks

Check your work: Section A (8) + Section B (8) + Section C (12) + Section D (12) = 40 marks. Attempt the whole paper before revealing the answers below.

Answer Key

Section A – Multiple Choice Questions

QuestionAnswer
1B
2B
3A
4C
5B
6C
7B
8B

Sections B to D – Final Answers

QuestionAnswer
9GST = ₹1,500
10Taxable value = ₹5,000
11Interest = ₹480
12Annual dividend = ₹500
13Amount paid = ₹4,248
14Net GST = ₹2,700 (CGST ₹1,350 + SGST ₹1,350)
15Interest = ₹1,500; maturity value = ₹20,700
16Income = ₹1,800; rate of return = 10%
17Net CGST = ₹2,250; net SGST = ₹2,250 (total ₹4,500)
18Rate = 8.4% per annum
19Net loss = ₹180
Detailed Solutions

Section A – Multiple Choice Questions

Question 1 – Answer: B (₹1,440)

GST = \(\dfrac{18}{100} \times 8000 = 18 \times 80 = \text{₹}1{,}440\).

Question 2 – Answer: B (9%)

In an intra-state sale the GST is split equally into CGST and SGST. So CGST = half of 18% = 9%.

Question 3 – Answer: A (₹195)

\(\dfrac{n(n+1)}{2} = \dfrac{12 \times 13}{2} = 78\). \(I = 500 \times 78 \times \dfrac{6}{1200} = \text{₹}195\).

Question 4 – Answer: C (200)

Number of shares = \(\dfrac{\text{investment}}{\text{MV}} = \dfrac{5000}{25} = 200\).

Question 5 – Answer: B (₹1.50)

Dividend per share = \(15\% \text{ of } 10 = \dfrac{15}{100} \times 10 = \text{₹}1.50\).

Question 6 – Answer: C (at a premium)

When MV > FV the share is bought at a premium; when MV < FV it is at a discount; when MV = FV it is at par.

Question 7 – Answer: B (\(P n + I\))

Maturity value = total deposits + interest = \(P \times n + I\).

Question 8 – Answer: B

Rate of return compares the dividend (income) with the money actually invested (market value), so it is \(\dfrac{\text{dividend}}{\text{market value}} \times 100\%\).

Section B – Short Answer Questions

Question 9
Working

GST = \(\dfrac{12}{100} \times 12500 = 12 \times 125 = 1500\).

GST = ₹1,500
Question 10
Working

Taxable value = \(\dfrac{\text{inclusive price}}{1 + \frac{18}{100}} = \dfrac{5900}{1.18} = 5000\).

Taxable value = ₹5,000
Question 11
Working

\(\dfrac{n(n+1)}{2} = \dfrac{15 \times 16}{2} = 120\). \(I = 600 \times 120 \times \dfrac{8}{1200} = 600 \times 120 \times 0.006666 = 480\).

Interest = ₹480
Question 12
Working

Dividend per share = \(10\% \text{ of } 20 = \text{₹}2\). Annual dividend = \(250 \times 2 = 500\).

Annual dividend = ₹500

Section C – Application Questions

Question 13
Method

Apply the discount first, then GST on the discounted value.

Discounted value = \(4000 - 10\% \text{ of } 4000 = 4000 - 400 = \text{₹}3{,}600\).

GST = \(18\% \text{ of } 3600 = 0.18 \times 3600 = \text{₹}648\).

Amount paid = \(3600 + 648 = \text{₹}4{,}248\).

Amount paid = ₹4,248
Question 14
Method

Use input tax credit: net GST = output GST − input GST.

Input GST (on ₹30,000) = \(0.18 \times 30000 = \text{₹}5{,}400\).

Output GST (on ₹45,000) = \(0.18 \times 45000 = \text{₹}8{,}100\).

Net GST = \(8100 - 5400 = \text{₹}2{,}700\). Intra-state, so net CGST = net SGST = \(\text{₹}1{,}350\).

Net GST = ₹2,700
Question 15
Method

2 years = 24 months. Use \(I = P \times \frac{n(n+1)}{2} \times \frac{r}{1200}\).

\(\dfrac{n(n+1)}{2} = \dfrac{24 \times 25}{2} = 300\).

\(I = 800 \times 300 \times \dfrac{7.5}{1200} = \text{₹}1{,}500\).

Total deposits = \(800 \times 24 = \text{₹}19{,}200\). Maturity value = \(19200 + 1500 = \text{₹}20{,}700\).

Interest = ₹1,500; maturity value = ₹20,700
Question 16
Method

Find the number of shares using MV, then use the dividend on FV.

Number of shares = \(\dfrac{18000}{12} = 1500\).

Dividend per share = \(12\% \text{ of } 10 = \text{₹}1.20\). Annual income = \(1500 \times 1.20 = \text{₹}1{,}800\).

Rate of return = \(\dfrac{1800}{18000} \times 100\% = 10\%\).

Income = ₹1,800; rate of return = 10%

Section D – Structured / Long Answer Questions

Question 17
Method

Both transactions are intra-state, so work out CGST and SGST separately and set input against output.

Input GST (on purchase) = \(0.18 \times 50000 = \text{₹}9{,}000\), i.e. CGST ₹4,500 + SGST ₹4,500.

Output GST (on sale) = \(0.18 \times 75000 = \text{₹}13{,}500\), i.e. CGST ₹6,750 + SGST ₹6,750.

Net CGST = \(6750 - 4500 = \text{₹}2{,}250\). Net SGST = \(6750 - 4500 = \text{₹}2{,}250\).

Net CGST = ₹2,250; net SGST = ₹2,250; total net GST = ₹4,500
Question 18
Method

Substitute the known values and solve for \(r\).

\(\dfrac{n(n+1)}{2} = \dfrac{24 \times 25}{2} = 300\).

\(1575 = 750 \times 300 \times \dfrac{r}{1200}\). So \(1575 = 225000 \times \dfrac{r}{1200} = 187.5\,r\).

\(r = \dfrac{1575}{187.5} = 8.4\).

Rate of interest = 8.4% per annum
Question 19
Method

Find the buying price, the dividend and the sale proceeds, then compare.

Buying price = \(10 + 25\% \text{ of } 10 = 10 + 2.50 = \text{₹}12.50\). Investment = \(600 \times 12.50 = \text{₹}7{,}500\).

Dividend per share = \(12\% \text{ of } 10 = \text{₹}1.20\); dividend received = \(600 \times 1.20 = \text{₹}720\).

Sale proceeds = \(600 \times 11 = \text{₹}6{,}600\). Loss on sale = \(7500 - 6600 = \text{₹}900\).

Net result = dividend − loss on sale = \(720 - 900 = -\text{₹}180\), i.e. a net loss.

Net loss = ₹180
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