A man invested ₹45000 in 15% ₹100 shares quoted at ₹125. When the market value of these shares rose to ₹140, he sold some shares, just enough to raise ₹8400. Calculate:

(i) The number of shares he still holds.

(ii) The dividend due to him on these shares.

(i)
Nominal Value per share = ₹100

Market Value per share = ₹125

Total Investment = ₹45000

Rate of Dividend = 15%

No. of shares bought at MV of ₹125

$= \dfrac{\text{Total Investment}}{\text{MV per share}} \\[0.5em] = \dfrac{45000}{125} \\[0.5em] = 360$

∴ Total number of shares = 360

Market Value per share of shares sold = ₹140

Amount raised from sale = ₹8400

$\text{No. of shares sold} \\[0.5em] = \dfrac{\text{Amt raised from sale}}{\text{MV per share}} \\[0.5em] = \dfrac{8400}{140} \\[0.5em] = 60$

No. of shares remaining = Total shares - Shares sold
= 360 - 60
= 300

∴ Number of shares the man still holds = 300

(ii)
Annual Dividend = No. of shares x Rate of Dividend x Nominal Value per share

$= 300 \times \dfrac{15}{100} \times 100 \\[0.5em] = \bold{₹4500}$

∴ Dividend due to the man on remaining shares = ₹4500