Question

Kiran sold shares of face value ₹100 when the market value was ₹50 and received ₹4988.20. She paid brokerage 0.2% and GST on brokerage 18%, then how many shares did she sell?

Answer 1

Total amount received = ₹4988.20
MV of each share = ₹50

Brokerage per share = 0.2% of ₹50 = ₹0.1 [0.5 Marks]
GST per share on brokerage =18% of ₹0.1 = ₹0.018 [0.5 Marks]
∴ S.P of each share = ₹50 − ₹0.1 − ₹0.018 = ₹49.882 [0.5 Marks]
No. of shares sold = $\frac{Totalamount}{Sellingprice}=\frac{4988.20}{49.882}$ = 100 [0.5 Marks]
Thus the number of shares sold is 100.