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Question
A man invested Rs. 45000 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. 8400. Calculate :
(i) the number of shares he still holds.
(ii) the dividend due to him on these shares.
Solution
Investment on shares = Rs. 45000
Face value of each share = Rs. 125
∴ Total number of shares
= `(45000)/(125)`
= 360shares
Income from sold shares = Rs.8400
No. of shares sold
= `"Income from shares"/"Market value of each share"`
= `(8400)/(140)`
= 60
∴ 60shares were sold.
(i) No. of shares he still hold
= Total number of shares - sold shares
= 360 - 60
= 300shares.
∴ Number of shares he still holds = 300
(ii) Market value of 300shares
= Rs.300 x 140
= Rs.42000
Face value of 300shares
= Rs.300 x 125
= Rs.37500
Difference
= Market value - Face value
= Rs.42000 - Rs.37500
= Rs.4500.
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