Sales Tax & Discounts: Multiple Choice Questions

Question 1​
Sales tax rate = 15%. Gross sales are $690.​
What are the net sales and the sales tax?​
A Net = $586.50. Sales tax = $103.5​
B Net = $600. Sales tax = $90​
C Net = $600. Sales tax = $103.5​
D Net = $586.50. Sales tax = $90

Question 2​
Sales tax rate = 16%. Full net price before any bulk discount = $3,000.​
Bulk discount = 20%.​
What are the gross sales and the sales tax?​
A Gross = $2,784. Sales tax = $480​
B Gross = $2,400 Sales tax = $384​
C Gross = $3,480. Sales tax = $480​
D Gross = $2,784. Sales tax = $384

Question 3​
In a period a company charges $4,600 sales tax on its sales. Its purchases from its suppliers
cost $6,000 including sales tax at 20%.​
What payment/receipt will be made to/received from the government at the end of the period?​
A 1,400 received from the government​
B 1,400 to be paid to the government​
C 3,600 to be paid to the government​
D 3,600 to be received from the government

Question 4​
A product has a net price of $800. The sales tax rate is 12%.​
What is the gross price and the sales tax?​
A Gross = $896. Sales tax = $96​
B Gross = $900. Sales tax = $100​
C Gross = $896. Sales tax = $100​
D Gross = $900. Sales tax = $96

Question 5​
An item is sold for $1,150 including 15% tax.​
What is the net sales and the sales tax?​
A Net = $1,000. Sales tax = $150​
B Net = $1,100. Sales tax = $50​
C Net = $1,000. Sales tax = $100​
D Net = $1,150. Sales tax = $0

Question 6​
Net sales are $1,200. Sales tax rate is 10%.​
What are the gross sales and the sales tax?​
A Gross = $1,320. Sales tax = $120​
B Gross = $1,200. Sales tax = $120​
C Gross = $1,320. Sales tax = $100​
D Gross = $1,100. Sales tax = $200

Question 7​
A company buys goods for $4,000 including 25% VAT.​
What is the net cost and VAT?​
A Net = $3,200. VAT = $800​
B Net = $4,000. VAT = $0​
C Net = $3,000. VAT = $1,000​
D Net = $3,600. VAT = $400

Question 8​
Sales tax rate = 18%. Gross sales = $1,416.​
What is the net sales and tax?​
A Net = $1,200. Sales tax = $216​
B Net = $1,416. Sales tax = $0​
C Net = $1,300. Sales tax = $116​
D Net = $1,250. Sales tax = $166

Question 9​
Net sales = $850. Sales tax = 14%.​
What is the total sales and tax amount?​
A Gross = $950. Sales tax = $100​
B Gross = $969. Sales tax = $119​
C Gross = $970. Sales tax = $120​
D Gross = $930. Sales tax = $80

Question 10​
A product has a gross price of $690 and the tax rate is 15%.​
What is the net price and the tax amount?​
A Net = $586.96. Tax = $103.04​
B Net = $600. Tax = $90​
C Net = $550. Tax = $140​
D Net = $580. Tax = $110
Question 11​
A supplier invoices a company for $1,840 including 15% tax.​
What is the net cost and tax amount?​
A Net = $1,600. Tax = $240​
B Net = $1,700. Tax = $140​
C Net = $1,600. Tax = $260​
D Net = $1,840. Tax = $0

Question 12​
Gross revenue = $2,300. Sales tax rate = 10%.​
What is the net revenue and the sales tax?​
A Net = $2,090. Tax = $210​
B Net = $2,300. Tax = $0​
C Net = $2,070. Tax = $230​
D Net = $2,100. Tax = $200

Question 13​
Sales tax rate = 17%. Net sales = $4,000.​
What are the gross sales and sales tax?​
A Gross = $4,680. Tax = $680​
B Gross = $4,400. Tax = $400​
C Gross = $4,680. Tax = $680​
D Gross = $4,700. Tax = $700

Question 14​
A customer pays $2,288 for goods that include 16% tax.​
What is the net value and tax?​
A Net = $1,972.41. Tax = $315.59​
B Net = $2,000. Tax = $288​
C Net = $2,100. Tax = $188​
D Net = $1,900. Tax = $388

Question 15​
Net sales = $6,500. Tax rate = 12%.​
What is the total sales value and tax?​
A Gross = $7,280. Tax = $780​
B Gross = $7,280. Tax = $780​
C Gross = $7,300. Tax = $800​
D Gross = $7,150. Tax = $650

Question 16​
A company buys machinery worth $11,500 including 15% VAT.​
What is the net cost and VAT?​
A Net = $10,000. VAT = $1,500​
B Net = $9,500. VAT = $2,000​
C Net = $10,500. VAT = $1,000​
D Net = $11,500. VAT = $0

Question 17​
Sales tax = $900. Total price paid = $6,900.​
What is the net price and tax rate?​
A Net = $6,000. Rate = 15%​
B Net = $6,000. Rate = 12%​
C Net = $5,500. Rate = 25%​
D Net = $5,750. Rate = 20%

Question 18​
Sales tax rate = 25%. Gross sales = $1,875.​
What is the net sales and sales tax?​
A Net = $1,500. Tax = $375​
B Net = $1,600. Tax = $275​
C Net = $1,700. Tax = $175​
D Net = $1,500. Tax = $400

Question 19​
Net sales = $900. Sales tax = 10%.​
What is the total price and sales tax amount?​
A Gross = $990. Tax = $90​
B Gross = $950. Tax = $50​
C Gross = $1,000. Tax = $100​
D Gross = $980. Tax = $80

Question 20​
Sales tax rate = 20%. Sales tax charged = $1,000.​
What is the net revenue?​
A $5,000​
B $6,000​
C $4,000​
D $5,500

Question 21​
Sales tax rate = 10%. Gross sales = $1,100.​
What is the net amount and tax?​
A Net = $1,000. Tax = $100​
B Net = $1,100. Tax = $0​
C Net = $990. Tax = $110​
D Net = $950. Tax = $150
Question 22​
A buyer pays $2,760 including 15% VAT.​
What is the net cost and VAT?​
A Net = $2,400. VAT = $360​
B Net = $2,500. VAT = $260​
C Net = $2,600. VAT = $160​
D Net = $2,300. VAT = $460

Question 23​
Total bill = $3,920 including 12.5% tax.​
What is the net amount and tax?​
A Net = $3,482.22. Tax = $437.78​
B Net = $3,400. Tax = $520​
C Net = $3,800. Tax = $120​
D Net = $3,600. Tax = $320

Question 24​
Sales tax = 15%, Gross sales = $2,070​
What is the sales tax and net amount?​
A Net = $1,800. Tax = $270​
B Net = $1,900. Tax = $170​
C Net = $1,950. Tax = $120​
D Net = $1,980. Tax = $90

Question 25​
Net sales = $3,200. Tax rate = 18%.​
What is the gross sales and tax?​
A Gross = $3,776. Tax = $576​
B Gross = $3,600. Tax = $400​
C Gross = $3,800. Tax = $600​
D Gross = $3,700. Tax = $500

Question 26​
Invoice total = $1,380 including 15% tax.​
What is the net amount and VAT?​
A Net = $1,200. VAT = $180​
B Net = $1,180. VAT = $200​
C Net = $1,100. VAT = $280​
D Net = $1,150. VAT = $230

Question 27​
You charge $2,000 for goods and add 13% sales tax.​
What is the total invoice amount and tax?​
A Total = $2,260. Tax = $260​
B Total = $2,300. Tax = $300​
C Total = $2,260. Tax = $260​
D Total = $2,260. Tax = $260

Question 28​
Gross sales = $1,760. Sales tax = 10%.​
What is the net value and tax amount?​
A Net = $1,600. Tax = $160​
B Net = $1,700. Tax = $60​
C Net = $1,800. Tax = $40​
D Net = $1,600. Tax = $120

Question 29​
Gross price = $2,700. Tax rate = 20%.​
What is the net value and tax?​
A Net = $2,250. Tax = $450​
B Net = $2,000. Tax = $700​
C Net = $2,300. Tax = $400​
D Net = $2,500. Tax = $200

Question 30​
Invoice = $5,520 including 20% VAT.​
What is the net and VAT amount?​
A Net = $4,600. VAT = $920​
B Net = $4,800. VAT = $720​
C Net = $4,500. VAT = $1,020​
D Net = $5,000. VAT = $520

Question 31​
Sales tax charged = $720. Rate = 12%.​
What is the net sales?​
A $6,000​
B $5,800​
C $6,500​
D $5,000

Question 32​
Net = $2,350. Tax = 15%.​
What is the gross and tax amount?​
A Gross = $2,702.5. Tax = $352.5​
B Gross = $2,800. Tax = $450​
C Gross = $2,600. Tax = $250​
D Gross = $2,750. Tax = $400
Question 33​
Gross sales = $3,450. Tax rate = 15%.​
What is the net and sales tax?​
A Net = $3,000. Tax = $450​
B Net = $2,900. Tax = $550​
C Net = $2,800. Tax = $650​
D Net = $3,050. Tax = $400

Question 34​
Sales tax rate = 12%. Net = $1,785.​
What is the total sales and tax?​
A Gross = $2,000. Tax = $215​
B Gross = $1,950. Tax = $165​
C Gross = $1,999.20. Tax = $214.20​
D Gross = $1,900. Tax = $115

Question 35​
Total paid = $4,428 including 18% VAT.​
What is the net price and VAT?​
A Net = $3,900. VAT = $528​
B Net = $3,750. VAT = $678​
C Net = $3,600. VAT = $828​
D Net = $3,750. VAT = $678

Question 36​
Gross = $1,150. Sales tax = 15%.​
What is the net and tax amount?​
A Net = $1,000. Tax = $150​
B Net = $1,050. Tax = $100​
C Net = $1,100. Tax = $50​
D Net = $1,150. Tax = $0

Question 37​
Net = $2,650. Tax rate = 12.5%.​
What is the gross and tax?​
A Gross = $2,981.25. Tax = $331.25​
B Gross = $2,900. Tax = $250​
C Gross = $2,950. Tax = $300​
D Gross = $3,000. Tax = $350

Question 38​
Sales tax = $800. Tax rate = 20%.​
What is the net sales amount?​
A $4,000​
B $3,000​
C $4,500​
D $4,200

Question 39​
A company’s gross sales are $3,220 and includes 15% VAT.​
What is the VAT and net value?​
A Net = $2,800. VAT = $420​
B Net = $2,900. VAT = $320​
C Net = $2,800. VAT = $420​
D Net = $2,700. VAT = $520

Question 40​
An item was sold for $2,300 including 10% sales tax.​
What is the tax and net price?​
A Net = $2,090.91. Tax = $209.09​
B Net = $2,100. Tax = $200​
C Net = $2,000. Tax = $300​
D Net = $2,150. Tax = $150