Question
Consider the following statements about Indian
economy: 1. Share of Corporation tax is more than the share of Income Tax in Direct tax collected. 2. Average monthly gross GST collections have constantly increased since 2018. Which of the above statement/s is/are correct?Solution
• Statement 1 is correct: The direct taxes, consisting mainly of corporate and personal income tax, constitute around 55 per cent of Gross tax revenue. The contribution of different taxes in GTR (FY23 BE) are: 
• Statement 2 is Incorrect: GST collections have been a major source of revenue. They have been on the rise crossing 1.49 lakh cr in 2022 from 0.90 lakh cr in 2018. However, contrary to the trend year 2021 saw a dip in collections. This is better shown below: 
A man invested Rs. 'A' at simple interest of 10% and Rs. 'A + 3000' at simple interest of 8% p.a., for 6 years each. If the interest earned from both in...
- A person invested Rs. 30,000 in two schemes. One scheme gives a simple interest of 7% p.a., while the other scheme gives 11% p.a. If the total interest ear...
Pawan invested Rs. 1200 for 4 months, Qureshi invested Rs. 1600 for 6 months, and Raju invested Rs. 2000 for 12 months in a busin...
A certain sum of money, when invested at a simple interest rate of 12% per annum, grows to Rs. 3,850 over a period of 54 months. What will be the inter...
An amount of 'a' is invested at an annual interest rate of 18% with simple interest, and another amount of 'a + 750' is invested at an annual interest...
Priya invested Rs. 9,000 in scheme ‘C’ at simple interest of 5% p.a. for ‘t’ years and Rs. 9,000 in scheme ‘D’ at simple interest of 14% p.a...
M invested Rs. 27,000 in two Mutual Funds, 'Axis Funds' and 'ICICI Funds,' for 5 years and 2 years, respectively. 'Axis Funds' provide simple interest a...
- A person invested Rs. 50,000 for 4 years at a simple interest rate of 11%. What is the total amount after 4 years?
- Ankit borrowed Rs.1800 from a loan company. At a certain rate of simple interest, the total amount becomes Rs.2124 after 3 years. If the rate of interest i...
Akshay invested Rs. 1050 in two schemes P and Q in the respective ratio of 5:2. Scheme P and Q are offering simple interest at the rate of 8% per annum ...
Relevant for Exams:
