Question

Mr. Aditya invested ₹50,118 in shares of FV ₹100, when the market value is ₹50. Rate of brokerage is 0.2% and Rate of GST on brokerage is 18%, then how many shares were purchased for ₹50,118?

Answer 1

Sum invested = ₹50118

FV = ₹100,

Market value = ₹50

Rate of brokerage = 0.2%, GST on brokerage = 18%

∴ Brokerage = $\frac{0.2}{100}$ × 50 = ₹0.1
GST on brokerage = $\frac{18}{100}$ × 0.1 = ₹ 0.018

Cost of one share = MV + brokerage + G.S.T = 50 + 0.1 + 0.018

= ₹50.118

Sum inverted = No. of shares × cost of one shares

$\Rightarrow$ 50118 = No. of shares × 50.118

No. of shares = $\frac{50118}{50.118}$ = 1000
So, Aditya purchased 1000 shares.