Amar purchased 150 shares of FV ₹120 and MV ₹150. Let the rate charged by broker = 2.5%. How much total amount did he pay to buy these shares?

₹22982.75

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₹23062.5

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₹23224.25

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₹23542.75

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Solution

The correct option is B ₹23062.5
Brokerage charged per share = $\frac{2.5}{100} \times 150$ = ₹3.75
Buying price of 1 share = MV + Brokerage = 150 + 3.75 = ₹153.75
Total amount paid to buy 150 shares = 150 $\times$ 153.75
= ₹23062.50

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