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Question
Mr. Tiwari invested Rs 29,040 in 15% Rs 100 shares at a premium of 20%. Calculate:
(i) The number of shares bought by Mr. Tiwari.
(ii) Mr. Tiwari’s income from the investment.
(iii) The percentage return on his investment.
Solution
(i) M.V. of one share = `[20/100 xx 100 + 100]`
= Rs.120
No. of shares
= `"Investment"/"M.V. of 1 share"`
= `₹(29040)/(120)`
= ₹242
(ii) Income
= 242 x 15
= ₹3,630
(iii) ∵ rate %
= `"dividend"/"M.V." xx 100`
= `(15)/(120) xx 100`
= 12.5%.
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