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Question
Rani has 500 shares of Rs 125 each of a company paying 12% dividend. Find her net income after paying 5% income tax.
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Solution
No. of shares = 500
Nominal value of each share =Rs 125
Face value of 500 shares =Rs ( 125 x 500) =Rs 62,500
Rate of dividend = 12°10
Total dividend = `(62500 xx 12)/100` = Rs 7500
Rate of income tax = 5 %
Total tax = `(5 xx 7500)/100` = Rs 375
Net income = Rs (7,500 - 37 5) = Rs 7, 125
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