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A Company Pays a Dividend of 15% on Its Ten-rupee Shares from Which It Deducts Income Tax at the Rate of 22%. Find the Annual Income of a Man Who Owns One Thousand Shares of this Company. - Mathematics

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Question

A company pays a dividend of 15% on its ten-rupee shares from which it deducts income tax at the rate of 22%. Find the annual income of a man who owns one thousand shares of this company.

Solution

Nominal value of 1 share = Rs 10

Nominal value of 1000 shares = 1000 × 10 = Rs 10,000

∴ Dividend =15% of Rs 10000

`= 15/100 xx 10000 = "Rs"  1500`

∴ Income tax paid = 22% of Rs 1500

`= 22/100 xx 1500 = "Rs"  330`

His net income = Rs 1,500 – Rs 330 = Rs 1,170

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APPEARS IN

 Selina Solution for Concise Mathematics for Class 10 ICSE (2020 (Latest))
Chapter 3: Shares and Dividend
Exercise 3(A) | Q: 12 | Page no. 29
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Solution A Company Pays a Dividend of 15% on Its Ten-rupee Shares from Which It Deducts Income Tax at the Rate of 22%. Find the Annual Income of a Man Who Owns One Thousand Shares of this Company. Concept: Shares and Dividends.
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