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Question
Ashutosh invested Rs 58,500 in buying shares of Rs 150 each of 'Van Chemicals', when it was available in the market at a premium of 30%. He sells one third of them at a market rate of Rs 215, one third of them at a market rate of Rs 195 and the rest at Rs 175. Find his loss or gain from the transaction.
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Solution
Investment by Ashutosh =Rs 58,500
Price at which Ashutosh purchased one share =
Rs ( 150 + 30°/o of Rs 150) =Rs (150 + 45) =Rs 195
No. of shares purchased by Ashutosh = `58500/195`= 300
Shares sold at Rs 215 = 1/3 x 300 = 100
Selling price of 100 shares at Rs 215
= Rs ( 100 x 215) = Rs 21,500 ........... (i)
Shares sold at Rs 195 = 1/3 x 300 = 100
Selling price of 100 shares at Rs 175
=Rs (100 x 175) =Rs 17,500 ........... (iii)
Adding ( i), (ii) and (iii), gives total money Ashutosh received by selling his shares
=Rs (21,500 + 19,500 + 17,500) =Rs 58,500
Difference in selling price and cost price= Rs (58,500 -58,500)
=Rs 0.
Hence, Ashutosh sold his shares at no loss or no gain.
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