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Question
A main invest Rs. 4500 in shares of a company which is paying 7.5% dividend. If Rs. 100 shares are available at a discount of 10%.
Find :
(i) Number of shares he purchaces.
(ii) His annual income.
Solution
Rs. 100 shares at a discount of 10%
will cost = 100 – 10
= Rs. 90
(i) ∴ Number of shares = `4500/90` = 50 shares
(ii) His annual income at 7.5% dividend
`"Annual income" = ("Number Of Share" xx "Divident Percent" xx FV)/100`
=`(50 xx 7.5 xx 100)/100`
= 50 × 7.5
Annual income = Rs 375.0
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