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Industry & Trade, 1950–90 · Question 34 of 53

Question 34

MediumOriginal question

An imported toy costs ₹800. The government puts a 25% tariff on it. What does a buyer in India now pay for the imported toy?

Options for question 34

Show the answer and explanation
CorrectNot quiteAnswer D

Correct answer: D

Explanation

  1. Tariff = 25% of 800 = ₹200.

  2. Price to the buyer = 800 + 200 = ₹1,000.

Worth noting

₹200 is the tariff itself, not the price.

Concept
Tariffs
Typical time
70 s
Your time
—
The rule this testsImport substitution, tariffs and quotas
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Ten questions from Industry & Trade, 1950–90, at your own pace.

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Ten questions from Industry & Trade, 1950–90, at your own pace.

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