A person bought 750 shares of a company quoted at ₹320. The amount spent by him on his purchase, if the brokerage be 2.5% is :
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → ₹2,46,000
Number of shares = 750
Price per share = Rs 320
Brokerage = 2.5%
Total cost before brokerage = $750 × 320=2,40,000$
Brokerage = $\frac{2.5}{100}×2,40,000=6,000$
Total cost = $(2,40,000+6,000)$
$=₹2,46,000$