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Question
A company pays 18% dividend and its ₹ 100 share is available at a premium of 20%. The number of shares bought for ₹ 7,200 is ______.
Options
1080
90
60
540
Solution
A company pays 18% dividend and its ₹ 100 share is available at a premium of 20%. The number of shares bought for ₹ 7,200 is 60.
Explanation:
F.V of one share = ₹ 100
M.V of one share
= ₹ 100 + 20% premium
= `₹100 + ₹(20/100 xx 100)`
= ₹ (100 + 20)
= ₹ 120
No. of shares bought for 7200
= `7200/120`
= 60
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