Question

Find the amount received when 300 shares of FV Rs. 100, were sold at a discount of Rs. 30.

Answer 1

Here, FV = Rs. 100, number of shares = 300,

discount = Rs. 30

MV of 1 share = FV – Discount

= 100 – 30 = Rs. 70

∴ MV of 300 shares = 300 × 70

= Rs. 21,000

∴ Amount received is Rs. 21,000.