Question

(1V) Find the purchase price of a share of FV rs 100, if it is at a premium of
rs 30. The rate of brokerage is 0.3%.

Answer 1

Answer:

M.V=F.V+Premium

=100+30

=130

Brokerage=0.3%

Brokerage=130×0.3/100

=0.39

Total amount=130-0.39

=129.61/-

Answer 2

Purchase price of a share is ₹130.39.

Step-by-step explanation:

Market Value of a share = Face Value of a share + Premium

                                           = 100 + 30

                                           = ₹ 130

Rate of brokerage = 0.3%

Brokerage of a share = $\frac{0.3}{100}\times 130$

                                    = 0.003 × 130

                                    = ₹0.39

Thus, the purchase price of a share = 130 + 0.39

                                                           = ₹130.39                            

Purchase price of a share is ₹130.39.

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