Question

A man owns 50 SBI shares which are now selling at the rate of 1800. He needs 50,000 for his daughter’s education. He decides to sell 25 SBI shares. The brokerage charged is 25%. How much more money does he need to arrange after selling the share.

Answer 1

Amount received after selling 25 shares at Rs 1800 = 45,000 

Brokerage = \(\frac{25}{100}\)× 45,000 = 112.5 

Money obtained = 45,000 – 112.5 = 4,4887.5 

He has to arrange for 50,000 – 4,4887.5 = 5112.5