Question

Shri. Aditya Sanghavi invested Rupees 50,118 in shares of FV Rupees 100, when the market value is Rupees 50. Rate of brokerage is 0.2% and Rate of GST on brokerage is 18%, then How many shares were purchased for Rupees 50,118 ? Solve the word problem

Answer 1

Answer:

1000 Shares were purchased for Rupees 50,118

Step-by-step explanation:

Let say number of Shares bought by Shri. Aditya Sanghavi = X

Market value of Share = 50 Rs

Value of Shares = 50X Rs

Brokerage = 0.2 %

= (0.2/100) * 50X

= 0.1 X

GST on Brokerage = (18/100)(0.1X) = 0.018X

Brokerage with GST = 0.1X + 0.018X = 0.118X

Total Amount Paid = 50X + 0.118X

= 50.118X

50.118X = 50118

=> X = 1000

1000 Shares were purchased for Rupees 50,118