According to the requirements of China Securities Regulatory Commission Fund Department [2007] 10 Notice on Unifying and Standardizing the Calculation Methods of Subscription Fees and Subscription Shares of Securities Investment Funds, the effective subscription fees of funds are calculated by external deduction method. According to the above method, there are:

(1) Known conditions: subscription amount = 20,000 yuan, usual subscription rate = 1%, fund subscription face value = 1 yuan/share.

(2) Calculation results:

1. Calculate the net subscription amount:

Net subscription amount =20000 yuan /( 1+ 1%)=20000 yuan/1 =19801.98065438 yuan (1

If two decimal places are taken and rounded, the net subscription amount is = 1980 1.98 yuan.

2. Calculate the subscription fee:

Subscription fee = 1980 1.98 yuan×1%=1980/.98 yuan× 0.01=198 yuan, (2)

If two decimal places are taken and rounded, the subscription fee is = 198.02 yuan.

Or, the subscription fee = 20,000 yuan-1980 1.98 yuan = 198.02 yuan, (3)

It can be seen that the two calculation methods are consistent.

3. Calculate the subscription share:

Subscription share = 1980 1.98 yuan/1 yuan/share = 1980 1.98 share. (4)

Second, answer questions:

(1) About subscription share:

You said that the subscription face value of the fund (that is, the unit price of the fund you mentioned) = 1 yuan/share, and the subscription amount = 20,000 yuan, so the subscription share should be 20,000 yuan. Actually, this is a wrong concept. Because, when you don't consider subscribing to the fund, you have to deduct the handling fee paid to the fund company, that is, the subscription fee (which can be referred to as the subscription fee);

(2) Back calculation:

1. Known conditions: subscription amount = 20,000 yuan, subscription share = 6,782, subscription fund face value = 1 yuan/share, subscription rate = 1%.

Your subscription share =6782. Where did you get it? Now, according to the above-mentioned known conditions, the back calculation is carried out to analyze whether this value is correct. The back calculation steps are as follows:

2. Calculation results:

(1) Calculate the net subscription amount:

From formula (4), we can get:

Net subscription amount = 6782 copies × 1 yuan/copy = 6782 yuan. Preliminary judgment, the net subscription amount is too small! How can the subscription amount of 20,000 yuan be only 6,782 yuan? Not even 10000 yuan? How is that possible? Most of the funds have been deducted from the subscription fee! Obviously, this is wrong!

(2) Calculation of subscription fee:

From formula (2), we can get:

Subscription fee =6782 yuan × 1%=67.82 yuan, as shown in formula (3):

Subscription fee = 20,000 yuan-6,782 yuan = 132 18 yuan. As can be seen from the above calculation results, the results of the two calculation methods are different, and the difference is too great. This is obviously wrong. The reason is that 6782 subscription share data is incorrect!