Ashok invested Rs. 26,400 on 12%, Rs. 25 shares of a company. If he receives a dividend of Rs. 2,475. Find the :
1) number of shares he bought
2) The market value of each share
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Solution
1) Total dividend = Rs.2,475
Dividend on each share 12% of Rs 25 =`12/100 xx 25` = Rs .3
∴ Number of shares bought = `"Total dividend"/"Dividend on 1 share" = 2475/3 = 825`
2) Market value of each share = `"Total Investment"/"Number of shares bought" = 26400/825` = Rs 32
Concept: Shares and Dividends
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