Smt Desai sold shares of face vale ₹100 when the market value was ₹50 and received ₹4988.20.She paid brokerage 0.2% and GST on brokerage 18%, then how many shares did she sell?
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No. shares 100
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Total amount received = Rs 4988.20
MV of each share = Rs 50
Brokerage per share = 0.2% of Rs 50 = 0.2/100×50 = Rs 0.1
GST per share on brokerage = 18% of Rs 0.1 = 18/100×0.1 = Rs 0.018
∴ Selling price of each share = MV − Brokerage − GST = Rs 50 − Rs 0.1 − Rs 0.018 = Rs 49.882
Number of shares sold = Total amount received/Selling price of each share=4988.20/49.882 = 100
Thus, the number of shares sold by Smt. Desai are 100.
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