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Question
Salman has some shares of ₹ 50 of a company paying 15% dividend. If his annual income is ₹ 3000, then the number of shares he possesses is
Options
80
400
600
800
Solution
F.V. of each share = ₹ 50
Dividend = 15%
Annual income = ₹ 3000
Let x be the share, then
F.V. of shares = x × 50 = ₹ 50x
Dividend = `(50x + 15)/(100)` = 30
= `(15)/(2)x` = 3000
⇒ x = `(3000 xx 2)/(15)`
⇒ x = 400
∴ Number of shares = 400.
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