Q4 of 55 Page 109

Smt. Desai sold shares of face value Rs. 100 when the market value was Rs. 50 and received Rs. 4988.20. She paid brokerage 0.2% and GST on brokerage 18%, then how many shares did she sell?

Given, FV = Rs. 100


MV = Rs. 50


Total Value of shares = Rs. 4988.20


Brokerage 0.2% = = Rs. 0.1


GST per share on Brokerage = 18% of 0.1 = 0.018


We know that cost of a share = MV + Brokerage + GST


∴ Cost of 1 share = 50 + 0.1 + 0.018 = Rs. 50.118


We know that total value of shares = Total Value + Brokerage + GST on brokerage


∴ 4988.20 = Total Value + 0.1 + 0.018


⇒ Total Value = 4988.20 – 0.1 – 0.018


∴ Total Value = Rs. 4988.082


We know that Investment (Total Value) = Cost × Number of shares


∴ Number of shares = = 99.5 ≈ 100


More from this chapter

All 55 →
2

A share is sold for the market value of Rs. 1000. Brokerage is paid at the rate of 0.1%. What is the amount received after the sale?

 3

Fill in the blanks given in the contract note of sale-purchase of shares.

(B - buy S - sell)


 5

Mr. D'souza purchased 200 shares of FV Rs. 50 at a premium of Rs. 100. He received 50% dividend on the shares. After receiving the dividend he sold 100 shares at a discount of Rs. 10 and remaining shares were sold at a premium of Rs. 75. For each trade he paid the brokerage of Rs. 20. Find whether Mr. D'souza gained or incurred a loss? by how much?

 1

Write the correct alternative for each of the following.

Rate of GST on essential commodities is . . .