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Bashir Khan purchased 100 shares of MV Rs 40. Brokerage paid at the rate of 0.5% and rate of GST on brokerage is 18%. Find the total amount he paid for the share purchase.

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Rs 4020

Rs 4233.20

Rs 4023.60

Rs 4003

answer is C.

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Detailed Solution

Number of shares purchased =100
Market Value of share = Rs. 40
Then, Total cost of 100 shares = Rs. 4000
Brokerage rate = 0.5%
⇒ Brokerage Commission paid =

\frac{0.5}{100} \times 40000 = rs 20

GST on Brokerage = 18% of 40000
= Rs. 3.6
Total amount paid for the purchase = 40000+20+3.6 = Rs 4023.60

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