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Question
A company declares 8 per cent dividend to the shareholders. If a man receives Rs. 2,840 as his dividend, find the nominal value of his shares.
Solution
Given: Rate of dividend = 8%
Dividend = 2,840
Let nominal value of his share = x
We know:
Dividend = Rate of dividend × Nominal value of a share
So, 2840 = `8/100 xx x`
x = `(2840×100)/8`
= 355 × 100
= 35,500
Nominal value of his share = Rs. 35,500
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