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.