in example (5) if GST was paid at 18% on brokerage ,then the loss is RS.451.92. verify whether you get the same answer
Answers
The loss is RS. 451.92 verified.
Given:
GST = 18%
The loss RS.451.92
To find:
verify The loss
Solution:
⇒ For Purchased Shares: FV = Rs. 10, MV = Rs. 60,
⇒ sum invested = Rs. 6024,
⇒ brokerage = 0.4 %, GST = 18%
⇒ Brokerage per share = 0.4/100 × 60 = Rs. 0.24 GST
⇒ per share = 18/100 × 0.24 = Rs. 0.0432
∴ Cost of one share = 60 + 0.24 + 0.0432 = Rs. 60.2832
∴ Cost of 100 shares = 100 × 60.2832 = Rs. 6028.32
⇒ For sold shares: FV = Rs. 10, MV = Rs. 50,
⇒ brokerage = 0.4 %, GST = 18%,
⇒ Number of shares = 100
⇒ Brokerage per share = 0.4/100 × 50 = Rs. 0.20
⇒ GST per share = 18/100 × 0.20 = Rs. 0.036
⇒ Selling price per share = 50 – 0.2 – 0.036 = Rs. 49.764
⇒ Selling price of 100 shares = 100 × 49.764 = Rs. 4976.4
⇒ Dividend received 60 %
∴ Dividend per share = 60/100 × 10 = Rs. 6
⇒ Dividend on 100 shares = 6 × 100 = Rs. 600
∴ income = 4976.4 + 600 = Rs. 5576.4
∴ Cost of 100 shares = Rs. 6028.32
∴ Loss = 6028.32 – 5576.4 = Rs. 451.92
∴ loss is Rs. 451.92
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