Ram Lal Sewa Samiti Ltd. purchased 30000 shares of Sippy and Sons Ltd. at a cost of Rs. 312 per share in the month of December 2005. It again purchased 30000 shares of the same company at a cost of Rs. 285 per share in January 2006. Both these investments were held as long term investments. Fair value of the shares of Sippy and Sons Ltd. as on 31-03-2006, that is, Ram Lal Sewa Samiti Ltd.’s balance sheet date was Rs. 259 per share. Ram Lal Sewa Samiti Ltd. considered the diminution to be other than temporary. Next year in the month of February 2007 it sold 35000 shares. Determine the profit/loss on disposal of shares under the following two situations:
1. If the shares were sold for Rs. 248 per share net.
2. If they were sold for Rs. 315 per share net.