Question

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?

• A. 1000
• B. 500
• C. 2000
• D. 1500

Answer 1

The correct option is A 1000

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
50118 = No.of shares × 50.118

$\Rightarrow$ No. of shares = $\frac{50118}{50.118}$ = 1000

So Aditya purchased 1000 shares.