Question

A share is sold for the market value of Rs. 2000. Brokerage is paid at the rate of 0.5%. What is the amount received after the sale?

Answer 1

Given: Market value (MV) = Rs. 2000; Brokerage rate = 0.5%.

Step-wise calculation:

1. Brokerage = `0.5/100 xx 2000`

= 0.005 × 2000

= Rs. 10

2. Amount received = MV – Brokerage

= 2000 – 10

= Rs. 1990

The amount received after the sale is Rs. 1,990.