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How much stock can be purchased for Rs. 794.50 at 112.5? (Brokerage 1% )

Rs. 650
Rs. 485
Rs. 706
Rs. 700

Correct Answer: Rs. 700

Explanation:

Rs. 794.50 = 112.5 + (1/100) x Amount of stock
∴ Amount of stock = (794.50 x 100) / 113.5 = Rs. 700

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