Mathematics
A man invests ₹ 20,020 in buying shares of N.V. ₹ 26 at 10% premium. The dividend on the shares is 15% per annum. Calculate :
(i) the number of shares he buys.
(ii) the dividend he receives annually.
(iii) the rate of interest he gets on his money.
Shares & Dividends
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Answer
(i) M.V. = ₹ 26 + = ₹ 26 + ₹ 2.6 = ₹ 28.6
Investment = ₹ 20,020
No. of shares bought = = 700.
Hence, no. of shares bought = 700.
(ii) Annual dividend = No. of shares × Rate of div. × N.V. of 1 share
= 700 ×
= ₹ 2,730.
Hence, dividend = ₹ 2,730.
(iii) Rate of interest = %.
Hence, the rate of interest = %.
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