Question

what amount is received by selling 150 Shares of face value 100 at a premium of Rs 20 brokerage is paid at rate of 0.3 %​

Answer 1

Answer:

Rs. 17946

Step-by-step explanation:

No. of shares sold = 150

FV = 100

Premium = Rs.20

MV = 100 + 20

= Rs. 120

Brokerage rate = 0.3%

Amount received excluding brokerage

= No. of shares sold × MV

= 150 × 120

= Rs. 18000 ----(1)

Brokerage amount = 0.3% of Rs. 18000

= 3.3/100 × 18000

= Rs. 54 ---(2)

Amount Received = (1) - (2)

= 18000 - 54

= Rs. 17946