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 ?

• A. 100
• B. 500
• C. 990
• D. 1000

Answer 1

The correct option is D 1000

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

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

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

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

Number of shares sold $=\frac{Totalamountreceived}{Sellingpriceofeachshare}$
$=\frac{59858.40}{59.8584}$
$=1000$

Thus, the number of shares sold by Smt.Kulkarni are $1000$