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Question
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
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RELATED QUESTIONS
A share is sold for the market value of Rs 1000. Brokerage is paid at the rate of 0.1%. What is the amount received after the sale?
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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