Question

A share is sold for the market value of ₹ 2,000. A brokerage is paid at the rate of 0.5%. What is the amount received after the sale?

Answer 1

Given Data:

Market Value of the Share = ₹ 2,000

Brokerage Rate = 0.5% of the market value

Step 1: Calculate the brokerage amount:

Brokerage = `0.5/100 xx 2,000`

= `(2,000 xx 0.5)/100`

= `(1,000)/100`

= 10

Step 2: Calculate the amount received after the sale:

Amount Received = Market Value − Brokerage

= 2,000 − 10

= 1,990

The amount received after the sale is ₹ 1,990.