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A sum of rupees 11,880 is invested in Rs. 50 shares available at 12% discount. Find the income, if a dividend of 12% is given on the shares. |
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Answer» Total investment = Rs. 11,880 Nominal value of 1 share = Rs. 50 Market value of 1 share = Rs. 50 − 12% of Rs. 50 = Rs. 50 – Rs. 6 = Rs. 44 ∴ No of shares purchased = 11,880/44 = 270 shares Nominal value of 270 shares = Rs. 50 × 270 = Rs. 13,500 Dividend% = 12% Dividend = 12% of Rs. 13,500 = (12/100) × 13,500= Rs. 1,620 |
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