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Question
A man invests ₹ 24000 on ₹ 60 shares at a discount of 20%. If the dividend declared by the company is 10%, then his annual income is ______.
Options
₹ 3000
₹ 2880
₹ 1500
₹ 1440
MCQ
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Solution
A man invests ₹ 24000 on ₹ 60 shares at a discount of 20%. If the dividend declared by the company is 10%, then his annual income is ₹ 3000.
Explanation:
Investment = ₹ 24000
F.V. of each share = ₹ 60
M.V. at discount of 20% = `60 xx (80)/(100)`
= ₹ 48
Rate of dividend = 10%
∴ Face value of all the share = `(500 xx 60)/(48)`
= ₹ 30000
Annual dividend = ₹ `(30000 xx 10)/(100)`
= ₹ 3000
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