Question

Smt. Aruna Thakkar purchased 100 shares of FV 100 when the MV is Rupees 1200. She paid brokerage at the rate of 0.3% and 18% GST on brokerage. Find the following -
(1) Net amount paid for 100 shares.
(2) Brokerage paid on sum invested.
(3) GST paid on brokerage.
(4) Total amount paid for 100 shares.

Answer 1

Dear Student,

◆ Answers -

(1) Net price paid = 120000 Rs

(2) Brokerage = 360 Rs

(3) GST paid = 64.8 Rs

(4) Total amt paid = 120424.8 Rs

◆ Explaination -

(1) Net amount paid for 100 shares -

Net amt paid = MV of each share × no of shares

Net price paid = 1200 × 100

Net price paid = 120000 Rs

(2) Brokerage paid on sum invested -

Brokerage = net value × rate of brokerage

Brokerage = 120000 × 0.3/100

Brokerage = 360 Rs

(3) GST paid on brokerage -

GST paid = taxable brokerage × rate of GST

GST paid = 360 × 18/100

GST paid = 64.8 Rs

(4) Total amount paid for 100 shares -

Total amt paid = net price + brokerage + GST

Total amt paid = 120000 + 360 + 64.8

Total amt paid = 120424.8 Rs

Hope this helps you...