Asif purchased 400 shares of a company (of par value Rs.10 each) at a premium of 25%. He sells these shares when their price rose to Rs.16.50 per share. Find his gain in the transaction.
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Answer:
Gain in the transaction = Rs 2600.
Step by Step Explanation is below here
Explanation:
Step 1.
Number of share Asif purchased = 400 shares
cost of one share = Rs 10
cost of 400 shares = 400×10= Rs 4000.
Step 2.
Cost of one share after the price rose = Rs 16.50
Cost of 400 shares after the price rose
= 400×16.50 =Rs 6600.
Step 3.
Gain in the transaction =
cost of 400 share before after rose - actual price of share
=6600-4000
=Rs 2600.
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