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Question
A man buys shares at the par value of Rs 10 yielding 8% dividend at the end of a year. Find the number of shares bought if he receives a dividend of Rs 300.
Solution
Face value of each share = Rs.10
Rate of dividend = 8% p.a.
Total dividend = Rs.300
∴ Total face value of shares
= `(300 xx 100)/(8)`
= ₹3750
and no. of shares
= `₹(3750)/(10)`
= ₹375.
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