Smt desai sold shares of face value rs100 when the market value was rs 50 and received rs 4988.20. She paid brokerage 0.2% and gst on brokerage 18%, then how many shares did she sell
Answers
Answer : 100 shares
Step by step explanation :
Let us assume that Smt. Desai sold 1 share.
Brokerage per share = Rate of Brokerage × MV
= 0.2/100 × 50
= Rs. 0.10
GST of 18% on brokerage
= 18/100 × 0.10
= Rs 0.018
Selling price of 1 share
= MV - ( Brokerage + GST )
= 50 - ( 0.10 + 0.018 )
= 50 - 0.118
= Rs. 49.882
Now,
If Smt. Desai sold x of shares, then the selling price =
Number of shares × Selling price of a share
Amount recieved by Smt. Desai = Selling price of x shares.
4988.20 = (x) × 49.882
x = 100 shares
Answer :
Smt. Desai sold 100 shares.
Answer:
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.