Mr. Mahajan Purchased 100 Shares, Each of Face Value Rs. 100, When the Market Price Was Rs. 45 per Share, Paying 2% Brokerage. If Rate of Gst on the Brokerage is 18%, Find the Total Amount He Spent. - Algebra

Mr. Mahajan purchased 100 shares, each of face value Rs. 100, when the market price was Rs. 45 per share, paying 2% brokerage. If the rate of GST on the brokerage is 18%, find the total amount he spent.

Solution

Amount spent to purchase 100 shares = 45 × 100 = Rs . 4500
Brokerage = 4500 × 2/100 = Rs . 90
GST
on brokerage = 90 × 18/100 = Rs. 16.20
∴   Total amount = 4500 + 90 + 16.20 = Rs .4606.20

Concept: Brokerage and taxes on share tradin
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