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Question
A man invests Rs. 3,072 in a company paying 5% per annum when its Rs. 10 shares can be bought for Rs. 16 each. Find:
- his annual income
- his percentage income on his investment.
Solution
Market value of 1 share = Rs. 16
A nominal value of 1 share = Rs. 10
Money invested = Rs. 3,072
∴ No. of shares purchased = `3072/16` = 192
Nominal value of 192 Shares = 10 × 192 = Rs. 1920
1. Annual income = 5% of Rs. 1920
= `5/100 xx 1920`
= Rs. 96
2. Income% = `96/3072 xx 100%`
= 3.125%
= `3 1/8 %`
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