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Question
Mohan holds 480 shares of a company and receives an annual dividend of ₹ 960. If the dividend he receives be 8% per annum, find the face value of share.
Sum
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Solution
Given:
Number of shares = 480
Total annual dividend = ₹ 960
Dividend rate = 8%
Dividend per share:
`=960/480`
= ₹ 2
Dividend = Dividend Rate × Face Value
`=> 2 = 8/100xx` Face Value
Face Value `=(2xx100)/8`
= ₹ 25
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