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Question
Krithika wants to invest Rs 10,000 in shares of different companies such that the percentage return on her investment is 8%. She invested Rs 4,500 in 6% Rs 100 shares at Rs 75, Rs 2,500 in 8% Rs 100 shares at par and the rest in 16% Rs 100 shares. Find the rate at which she bought the 16% shares.
Solution
Money invested =Rs 10,000
For 6 % shares:
Market value = Rs 75
Amount invested =Rs 4,500
Income from investment= Rs `6/75 xx 4500` = Rs 360
For 8 % shares:
Market Value = Rs 100
Amount invested = Rs 2,500
Income from investment = Rs `8/100 xx 2500`= Rs 200
For 16 % shares:
Market value = Rs x
Amount invested =Rs ( 10,000-4,500-2,500) =Rs 3,000
Income from investment = Rs `16/x xx 3000` = Rs `48000/x`
Total investment from shares = Rs360 + Rs200 +Rs `48000/x`
Krithika wants 8 % return on his investment
`8/100 xx "Rs" 10000` = Rs 800
Therefore,
Rs 800 = Rs 360 + Rs 200 + Rs `48000/x`
Rs 240x = Rs 48, 000
x = Rs200
Hence, Krithika bought 16 % shares at Rs 200 per share.
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