Mathematics
Mr. Gupta invested ₹33000 in buying ₹100 shares of a company at 10% premium. The dividend declared by the company is 12%.
Find:
(a) the number of shares purchased by him.
(b) his annual dividend.
Shares & Dividends
ICSE 2024
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Answer
Money invested = ₹33000
N.V. of share = ₹100
M.V. = N.V + Premium
= ₹100 +
= ₹100 + ₹10
= ₹110.
(a) Number of shares = = 300.
Hence, no. of shares purchased = 300.
(b) By formula,
Annual dividend = Number of shares × Rate of dividend × N.V.
= 300 ×
= ₹3600.
Hence, annual dividend = ₹3600.
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