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Question
Mr. Gupta invested ₹ 33000 in buying ₹ 100 shares of a company at 10% premium. The dividend declared by the company is 12%.
Find:
- the number of shares purchased by him
- his annual dividend.
Solution
Money invested = ₹ 3,000
N.V. = ₹ 100
M.V. = `₹(100 + 10/100 xx 100) xx ₹ 100`
Dividend given = 12%
a. Number of shares purchased = `(33,000)/110` = 300
b. Annual dividend = Number of shares × Rate of dividend × Face value of one share
= `300 xx 12/100 xx 100`
= ₹ 3600
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