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Question
Ajay owns 560 shares of a company. The face value of each share is Rs. 25. The company declares a dividend of 9%. Calculate.
(i) the dividend that Ajay will get.
(ii) the rate of interest, on his investment if Ajay has paid Rs. 30 for each share.
Solution
No. of shares = 560
Face value of each share = Rs.25
Rate of dividend = 9% p.a.
Total face value of 560 shares
= Rs. 25 x 560
= Rs.14000
(i) ∴ Amount of dividend
= `"Rs."14000 xx (9)/(100)`
= Rs.1260
(ii) Market value of each other = Rs.30
∴ Total investment
= Rs.30 x 560
= Rs.16800
∴ Percentage of interest on his investment
= `(1260 xx 100)/(16800)`
= 7.5%.
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