Question

Navin brought 120 shares at the market value of Rs. 375 each and brokerage 0.4%. Calculate the sum he paid for the transaction.

Answer 1

The sum of the amount paid by Navin is Rs. 45180.

Given:

Navin brought 120 shares at a market value of Rs. 375 each

The percentage of brokerage is 0.4%.  

To find:

Calculate the sum he paid for the transaction.

Solution:

Formula used:

Brokerage cost = Brokerage percentage × Total Price

Total sum paid = Total cost of shares + Brokerage cost  

Given Navin brought 120 shares

The market value of share = Rs. 375  

=> Total price of 120 shares = 120 × Rs. 375

= 45000 Rs.

As we know Brokerage cost = Brokerage percentage × Total Price  

=> Brokerage cost = 0.4% × 45000

= $\frac{0.4}{100} \times 45000$ = $0.4 \times 450$ = Rs. 180  

Brokerage cost = Rs. 180  

By the given formula,

Total sum paid = Rs. 45000 + Rs. 180 = Rs. 45180  

Therefore,

The sum of the amount paid by Navin is Rs. 45180

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