Question

Mr. Ajay Joshi sold shares of face value $₹20$ when the market value was $₹80$ and received $₹796.224$. He paid brokerage $0.4\%$ and GST on brokerage $18\%$, then how many shares did he sell? [2 marks]

Answer 1

Total amount received $=₹796.224$
MV of each share $=₹80$

Brokerage per share
$=0.4\%$ of $₹80$
$=\frac{0.4}{100}\times 80$
$=₹0.32$ [0.5 Marks]

GST per share on brokerage
$=18\%$ of $₹0.32$
$=\frac{18}{100}\times 0.32$
$=₹0.0576$ [0.5 Marks]

∴ Selling price of each share
= MV − Brokerage − GST
$=₹80-₹0.32-₹0.0576$
$=₹79.6224$ [0.5 Marks]

Number of shares sold $=\frac{Totalamountreceived}{Sellingpriceofeachshare}$
$=\frac{796.224}{79.6224}$
$=10$

Thus, the number of shares sold by Mr. Ajay Joshi are $10$. [0.5 Marks]