What profit is made by selling 90 shares of Rs 100 each bought at par value and sold at 10 premium, brokerage being 2 %?
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Answered by
22
According to question,
Selling price of the shares = 110
which means that the selling price are 10 more than par (100)
Also,
the purchase price of shares = 100
and
Brokerage = 2%
and
Number of shares = 90
So, Total sales = Number of shares * The purchase price of shares
= 90 * 110
= 9900
Deducting 2% brokerage
= 198 (9900 * 0.02)
Less purchase price = 90 * 100
Thus total profit = 702
Answered by
5
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