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Question
The sum invested to purchase 15 shares of a company of nominal value ₹ 75 available at a discount of 20% is ______.
Options
₹ 60
₹ 90
₹ 1350
₹ 900
Solution
The sum invested to purchase 15 shares of a company of nominal value ₹ 75 available at a discount of 20% is ₹ 900.
Explanation:
Number of shares purchased = 15
Market value of each share = `75 - 20/100 xx 75`
= 75 – 15
= ₹ 60
Total money invested to purchase 15 shares
= 15 × 60
= ₹ 900
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