Mathematics

A man invested ₹ 45,000 in 15% ₹ 100 shares quoted at ₹ 125. When the M.V. of these shares rose to ₹ 140, he sold some shares, just enough to raise ₹ 8,400. Calculate :
(i) the number of shares he still holds;
(ii) the dividend due to him on these remaining shares.

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(i) No. of shares = $\dfrac{\text{Investment}}{\text{M.V.}} = \dfrac{45000}{125}$ = 360.

S.P. of one share = ₹ 140,

Hence, shares required to raise ₹ 8400,

= $\dfrac{\text{Money required}}{\text{S.P. of each share}} = \dfrac{8400}{140} = 60.$

Shares left = 360 - 60 = 300.

Hence. no. of shares left = 300.

(ii) Annual dividend = No. of shares × Rate of div. × N.V. of 1 share

= 300 × $\dfrac{15}{100} \times 100$

= ₹ 4,500.

Hence, dividend due = ₹ 4,500.

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