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Question
Find the purchase price of a share of FV Rs 100 if it is at premium of Rs 30. The brokerage rate is 0.3%.
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Solution
MV of the share = FV of the share + Premium = Rs 100 + Rs 30 = Rs 130
Brokerage = 0.3% of Rs 130 = \[\frac{0 . 3}{100} \times 130\] = Rs 0.39
∴ Purchase price of the share = MV of the share + Brokerage = Rs 130 + Rs 0.39 = Rs 130.39
Thus, the purchase price of the share is Rs 130.39.
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