Mathematics
If a man received ₹1080 as dividend from 9% ₹20 shares, find the number of shares purchased by him.
Shares & Dividends
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Answer
Let the number of shares purchased by the man be x
Nominal Value per share = ₹20
Rate of Dividend = 9%
Annual Dividend = ₹1080
Annual Dividend = No. of shares x Rate of Dividend x Nominal Value per share
According to the given,
∴ Number of shares purchased by the man = 600
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