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Question
Ashok invested Rs. 26,400 in 12%, Rs. 25 shares of a company. If he receives a dividend of Rs. 2,475, find the:
- number of shares he bought.
- market value of each share.
Solution
i. Total dividend = Rs. 2,475
And dividend on each share
= 12% of Rs. 25
= `12/100 xx Rs. 25`
= Rs. 3
∴ Number of shares bought
= `"Total dividend"/"Dividend on 1 share"`
= `2475/3`
= 825
ii. Market value of 825 shares = Rs. 26,400
∴ Market value of each share
= `"Total investment"/"No. of shares"`
= `26400/825`
= Rs. 32
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