Courses for Kids
Free study material
Offline Centres
Store Icon

Smt. Desai has 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?

Last updated date: 16th Jul 2024
Total views: 347.1k
Views today: 7.47k
347.1k+ views
Hint: In order to find the number of shares she sold, firstly we must find the amounts from the percentages given. After finding the amounts, we will be finding the selling prices of each share by subtracting the brokerage amount and the GST amount from the market value. The number of shares sold can be calculated by dividing the total amount received by the Selling price of each share. This obtained value would be our required value.

Complete step-by-step solution:
Now let us learn about the market value in brief. It is the price of a property that brings competition upon it and the open market under all conditions assuming that there is nothing being affected. Market value is important because it provides a strong method that eliminates the uncertainty for deciding the worth of the asset.
Now let us find the number of shares Smt. Desai has sold.
Total amount earned\[=Rs.4988.20\]
Given that, market value of each share \[=Rs.50\].
Now let us find out the amount of brokerage per share.
\[\Rightarrow \dfrac{0.2}{100}\times 50=Rs.0.1\]
The amount of GST on per share on brokerage\[=18\%\left( 0.1 \right)=\dfrac{18}{100}\times 0.1=Rs.0.018\]
Now let us find the selling price on each share.
Selling price= Market Value- Brokerage- GST\[=Rs.50-Rs.0.1-Rs.0.018=Rs.49.882\]
Now we can find the number of shares sold by the formula \[\dfrac{\text{Total amount received}}{\text{selling price on each share}}\]
\[\Rightarrow \dfrac{4988.20}{49.882}=100\]
\[\therefore \] The total number of shares sold\[=100\]

Note: We must have a note in order to find the selling price of one share, all other expenses additionally expenses added to it are to be subtracted. The value of selling price always cannot be solved always in the same process. We must apply the formulas according to the attributes given .