Question

Mr.Godfrey invested ₹5010 in a share of ₹ 100 at MV ₹50.If he paid 0.2% brokerage then find the number of shares he bought

Answer 1

Mr. Godfrey bought total 33 shares.

Step-by-step explanation:

Given:

Mr. Godfrey invested total = ₹5010

We have found a mistake in question that MV would be replaced with FV

MV would be replaced with FV = ₹50

Price of unit share = ₹100

Total value of MV = FV + 100 = 50 +100 = ₹150

Brokerage percentage = 0.2%

• So the amount invested to purchase the shares = 5010 - 0.2% of 5010

        Amount of shares  =      $5010 - \left(\dfrac{0.2}{100} \times5010\right)$

• Amount of shares = 4999.98 =₹5000

• Let the total number of shares bought by Mr. Godfrey = x,

• Now we can calculate the total number of share as:

        (MV)x = 5000

        (150) x = 5000

             $x =\dfrac{5000}{150}\\x = 33.333$

Mr. Godfrey bought total 33 shares.