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Question
Calculate the investment required to buy:
150 shares of Rs 100 each at a premium of 12%.
Sum
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Solution
150 shares of Rs 100 each at a premium of 12 %.
No. Of shares to be purchased = 150
Rs 100 shares at a premium of 12 % =Rs ( 100+ 12 % of Rs 100)
= Rs (100+12) = Rs 112
Therefore, money required to purchase 150 shares
= Rs 112 x 150 = Rs 16,800.
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