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Question
A man invested Rs. 45,000 in 15% Rs. 100 shares quoted at Rs. 125. When the market value of these shares rose to Rs. 140, he sold some shares, just enough to raise Rs. 8,400. Calculate:
- the number of shares he still holds;
- the dividend due to him on these remaining shares.
Solution
1. Total investment = Rs. 45,000
Market value of 1 share = Rs. 125
∴ No of shares purchased = `45000/125` = 360 shares
Nominal value of 360 shares = Rs. 100 × 360 = Rs. 36,000
Let no. of shares sold = n
Then sale price of 1 share = Rs. 140
Total sale price of n shares = Rs. 8,400
Then n = `8400/140` = 60 shares
The no. of shares he still holds = 360 – 60 = 300
2. Nominal value of 300 shares = Rs. 100 × 300 = Rs. 30,000
Dividend% = 15%
Dividend = 15% of Rs. 30,000
= `15/100 xx 30000`
= Rs. 4,500
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