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Question
A man holding ₹ 45000 of 3% stock sells out when the stock is standing at 95 and invests the proceeds in 5% stock at 114. What is the change in his income?
Sum
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Solution
Given:
He holds ₹ 45000 nominal value of 3% stock
Sells at ₹ 95
Invests in 5% stock at ₹ 114
Income:
= 3% of ₹ 45000
`=3/100xx45000`
= ₹ 1350
Sale amount:
`=(45000/100)xx95`
= ₹ 42750
Nominal value:
`=(42750/114)xx100`
= ₹ 37500
Income
= 5% of ₹ 37500
`=5/100xx37500`
= ₹ 1875
Change:
= ₹ 1875 − ₹ 1350
= ₹ 525
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