Question

smt. aruna thakkar purchased 100 shares of FV 100 when the MV is Rs 1200 she paid brokerage at the rate of 0.3% and 18% GST on brokerage find the following 1)Net amount paid For 100 shares2)brokerage paid on sum invested3)GST paid on brokerage 4)Total amount paid for 100

Answer 1

Solution: Face value of each share = Rs 100

Market value of each share = Rs 1,200

Number of shares purchased = 100

Net amount paid for 100 shares = Market value of each

hare × Number of shares purchased = Rs 1,200 × 100 = Rs  20,000  

Rate of brokerage = 0.3%

∴ Brokerage paid on sum invested = 0.3% of Rs 1,20,000 =

18/(100 )×69.65=360

GST paid on brokerage = 18% of Rs 360 = 18/100×360=64.80

Now,  

Total amount paid for 100 shares

= Net amount paid for 100 shares (or Sum invested)

+ Brokerage paid on sum invested + GST paid on brokerage  

= Rs 1,20,000 + Rs 360 + Rs 64.80

= Rs 1,20,424.80