Question

Smt. Kulkarni sold shares of face value $₹10$ when the market value was $₹60$ and received $₹59858.40$. She paid brokerage $0.2\%$ and GST on brokerage $18\%$, then how many shares did she sell? [3 marks]

Answer 1

Total amount received $=₹59858.40$
MV of each share $=₹60$

Brokerage per share
$=0.2\%$ of $₹60$
$=\frac{0.2}{100}\times 60$
$=₹0.12$ [0.5 Marks]

GST per share on brokerage
$=18\%$ of $₹0.12$
$=\frac{18}{100}\times 0.12$
$=₹0.0216$ [0.5 Marks]

∴ Selling price of each share
= MV − Brokerage − GST
$=₹60-₹0.12-₹0.0216$
$=₹59.8584$ [1 Mark]

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

$=\frac{59858.40}{59.8584}$

$=1000$

Thus, the number of shares sold by Smt. Kulkarni are $1000$. [1 Mark]