Explanation:

Let’s break it down:

- B buys 2000 shares at ?400 each (?8,00,000 total). Sells all at ?390 on the next day (market is bearish).

- Sold shares go to A (1000 shares), C (700 shares), D (300 shares).

- A and C then sell 500 and 350 shares respectively on the same day, which E buys at ?395 (so E buys 850 shares on intraday).

- E later buys 200 more shares at ?420 (delivery).

- After a year, E sells all (850 + 200 = 1050 shares) at ?500 per share (delivery).

- The question wants the profit difference if E had sold at ?500 vs. ?450.

Key costs:

- Intraday: 1% brokerage per buy/sell.

- Delivery: 0.5% brokerage per buy/sell.

Let's run the numbers for profit difference:

- Selling at ?500/share for 1050 shares = ?5,25,000

- Selling at ?450/share for 1050 shares = ?4,72,500

Brokerage charges reduce profit both times, but the *difference* will just be 1050 × (500 – 450) = ?52,500

Driven by brokerage on the difference: since on sale, extra brokerage (0.5%), so reduces by ?262.5

Final difference: ?52,500 - ?262.5 = ?52,237.5

So, the answer is Option:5 - Rs. 52,237.5

Each option just maps to this profit calculation, with brokerage on the price difference included.

That’s what you need to know.