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Question
Himanshu invested ₹ 1,55,91,490 in the shares of FV ₹ 100 when MV is ₹ 1,550. Also, the rate of brokerage is 0.5% and GST is 18%. Then find how many shares were buy. Also find the amount of brokerage paid and GST paid for the trading.
Solution
Money invested = ₹ 1,55,91,490
Brokerage = 0.5%
GST = 18%
∴ Brokerage per share = `1550 xx 0.5/100`
= 7.75
So, GST per share = 18% of 7.75
= 1.395
Cost of 1 share = MV + Brokerage + GST
= 1550 + 7.75 + 1.395
= ₹ 1559.145
Number of shares = `15591490/1559.145`
= 10000
Total brokerage = Brokerage per share × Number of shares
= 7.75 × 10000
= ₹ 77500
Total GST = 10000 × 1.395
= ₹ 13950
As a result, Himanshu purchased 10,000 shares, paying ₹ 77500 in brokerage and ₹ 13950 in GST.
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