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Question
Find the amount received when 300 shares of FV Rs 100, were sold at a discount of Rs 30.
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Solution
MV of each share = FV of each share − Discount = Rs 100 − Rs 30 = Rs 70
Number of shares sold = 300
∴ Amount received on selling the shares = MV of each share × Number of shares sold = 70 × 300 = Rs 21,000
Thus, the amount received on selling the shares is Rs 21,000.
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