Question

Question 8. Shri. Aditya Sanghavi 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

Here, $FV=₹100,MV=₹50$
Purchase value of shares $=₹50118$,
Rate of brokerage $=0.2\%$, Rate of GST $=18\%$
Brokerage $=0.2\%$ of $MV$
$$=\frac{0.2}{100}\times 50$$
Brokerage $=₹0.1$
GST $=18\%$ of brokerage
$$=\frac{18}{100}\times 0.1$$
$$=₹0.018$$
Purchase value of a share
$$\begin{array}{cc}& =MV+\text{Brokerage}+GST\\ & =50+0.1+0.018\\ & =50.118\end{array}$$
$$\begin{array}{cc}\therefore \text{Number of shares}=\frac{\text{Purchase value of allshares}}{\text{Purchase value of oneshare}}& \\ & =\frac{50118}{50.118}\\ & =1000\end{array}$$\therefore 1000$ shares were purchased for ₹ 50,118.