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Chapter: Financial Planning· Mathematics Part 1 (Algebra)

(Thinking question) Mrs. Kulkarni paid a total of ₹ 40,236 to buy some shares of MV ₹ 400 each, including brokerage at 0.5% and GST at 18% on the brokerage. How many shares did she buy?

Q.27 (Thinking question) Mrs. Kulkarni paid a total of ₹ 40,236 to buy some shares of MV ₹ 400 each, including brokerage at 0.5% and GST at 18% on the brokerage. How many shares did she buy?

1 answer

Best answer

Answer: She bought 100 shares.

Work out the cost of one share first.

Brokerage on one share = \(\dfrac{0.5}{100} \times 400\) = ₹ 2

GST on that brokerage = \(\dfrac{18}{100} \times 2\) = ₹ 0.36

Cost of one share = 400 + 2 + 0.36 = ₹ 402.36

Number of shares = \(\dfrac{40236}{402.36} = 100\)

Check: 100 shares cost 40000 + 200 (brokerage) + 36 (GST) = ₹ 40,236.

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