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Question
Find the income on 12% stock of ₹ 60000 purchased at ₹ 110.
Sum
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Solution
Given:
Stock value (nominal/par value) = ₹ 60,000
Rate of stock = 12%
Purchase price per ₹100 stock = ₹ 110
Income:
= 12% of ₹ 60,000 `12/100xx60000`
= ₹ 7200
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