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Question
Calculate the investment required to buy:
220 shares of Rs 75 each at a premium of 15%.
Solution
220 shares of Rs 7 5 each at a premium of 15 %.
No. Of shares to be purchased = 220
Rs 75 shares at a premium of 15 % = Rs (75+15% of Rs 75) = Rs (75+11.25) =Rs 86.25
Therefore, money required to purchase 220 shares
=Rs 86.25 x 220 =Rs 18,975.
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