Mr. Ravi sold Rs 2,250 stock at 75 and bought stock at 88.5 with the p

1.	Mr. Ravi sold Rs 2,250 stock at 75 and bought stock at 88.5 with the proceeds. How much stock does he buy if the brokerage is 2% for selling and 1.5% for buying.
Answer» Mr. Ravi selling price of 2,250 stock at 75 is = \(\frac{2,250\times75}{100}\)= 1,687.5 Brokerage is \(\frac{2}{100}\) × 1,687.5 = 33.75 100 Amount received = 1,687.5 – 33.75 = 1,653.75 Brokerage for buying is 1.5% Brokerage is on cash = \(\frac{1,653,75\times1.5}{100}\) = 24.81 100 Cash available for purchasing shares = 1,653.75 – 24.81 = 1,628.94 Stock purchased at 88.5 = \(\frac{1,628,94\times 100}{88.5}\) = 1,840.61

Mr. Ravi sold Rs 2,250 stock at 75 and bought stock at 88.5 with the proceeds. How much stock does he buy if the brokerage is 2% for selling and 1.5% for buying.

Answer»

Mr. Ravi selling price of 2,250 stock at 75 is = \(\frac{2,250\times75}{100}\)= 1,687.5

Brokerage is \(\frac{2}{100}\) × 1,687.5 = 33.75

100 Amount received = 1,687.5 – 33.75 = 1,653.75

Brokerage for buying is 1.5%

Brokerage is on cash = \(\frac{1,653,75\times1.5}{100}\) = 24.81

100 Cash available for purchasing shares

= 1,653.75 – 24.81 = 1,628.94

Stock purchased at 88.5 = \(\frac{1,628,94\times 100}{88.5}\) = 1,840.61