Shahrukh has some shares of ₹ 50 of a company paying 15% dividend. If his annual income is ₹ 3,000, then the number of shares he possesses is :

1. 400

2. 600

3. 800

4. 200

Given,

Face Value = ₹ 50

Dividend Rate = 15%

Annual Income = ₹ 3,000

Let the number of shares be x.

By formula,

⇒ Annual dividend = No. of shares × Rate of div. × N.V. of 1 share

⇒ 3000 = x × $\dfrac{15}{100}$ × 50

⇒ x = $\dfrac{3000 \times 100}{15 \times 50}$

⇒ x = 200 × 2

⇒ x = 400

Hence, Option 1 is the correct option.