Owns 2000 units in BSP Bank shares. Paid 79toea per unit, less 7%tax on individuals.calculate how much is paid?

First, calculate the total cost of purchasing 2000 units at 79 toea per unit:

2000 units * 79 toea/unit = 158,000 toea

Next, calculate the amount of tax paid on the purchase:

7% of 158,000 toea = 0.07 * 158,000 = 11,060 toea

Finally, subtract the tax paid from the total cost to find the final amount paid:

158,000 toea - 11,060 toea = 146,940 toea

Therefore, the individual paid 146,940 toea for 2000 units in BSP Bank shares.

Step 1: Calculate the total cost of shares

Cost per share = 79 cents / unit
Number of shares = 2000 units

Total cost = Cost per share × Number of shares
Total cost = 79 cents / unit × 2000 units
Total cost = 158000 cents

Step 2: Calculate the tax amount

Tax rate = 7%

Tax amount = Tax rate × Total cost
Tax amount = 7% × 158000 cents
Tax amount = 11060 cents

Step 3: Calculate the net amount paid

Net amount paid = Total cost - Tax amount
Net amount paid = 158000 cents - 11060 cents
Net amount paid = 146940 cents

Therefore, the amount paid for 2000 units of BSP Bank shares, after deducting 7% tax on individuals, is 146,940 cents.