Mr. Mahajan purchased 100 shares, each of face value Rs. 100, when
the market price was Rs. 45 per share, paying 2% brokerage. If the rate
of GST on the brokerage is 18%, find the total amount he spent.
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Answer:
Total amount Mr. Mahajan spent is Rs. 4606.20
Step-by-step explanation:
No. of shares purchased = 100
Cost of each share = Rs. 45
Brokerage = 2%
GST = 18% on brokerage
Cost of 100 shares = Rs.45 * 100 =Rs. 4500
Brokerage = 2% of 4500 = Rs. 90
GST = 18% on brokerage = 0.18 * 90 = Rs. 16.20
Total amount spent = 4500 + 90 + 16.20 = Rs. 4606.20
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