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Question
Smt. Desai sold shares of face value Rs 100 when the market value was Rs 50 and received Rs 4988.20. She paid brokerage 0.2% and GST on brokerage 18%, then how many shares did she sell ?
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Solution
Total amount received = Rs 4988.20
MV of each share = Rs 50
Brokerage per share = 0.2% of Rs 50 = \[\frac{0 . 2}{100} \times 50\] = Rs 0.1
Number of shares sold = \[\frac{\text{ Total amount received} }{\text{ Selling price of each share } } = \frac{4988 . 20}{49 . 882}\] = 100
Thus, the number of shares sold by Smt.Desai are 100.
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RELATED QUESTIONS
Fill in the blanks given in the contract note of sale-purchase of shares.
(B - buy S - sell)
|
No. of
shares
|
MV of
shares
|
Total
value
|
Brokerage
0.2%
|
9% CGST
on
brokerage
|
9% SGST
on
brokerage
|
Total
value of
shares
|
| 100 B | Rs 45 | |||||
| 75 S | Rs 200 |
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