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A Man Buys 75, Rs 100 Shares of a Company Which Pays 9 per Cent Dividend. He Buys Shares at Such a Price that He Gets 12 per Cent of His Money. at What Price Did He Buy the Shares? - Mathematics

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Question

A man buys 75, Rs 100 shares of a company which pays 9 per cent dividend. He buys shares at such a price that he gets 12 per cent of his money. At what price did he buy the shares?

Solution

Nominal value of 1 share = Rs 100

Nominal value of 75 shares = `100 xx 75 = "Rs"  7500`

Dividend% = 9%

∴ Dividend = 9% of Rs 7500

`= 9/100 xx "Rs"  7500= "Rs"  675`

Let market price of 1 share = Rsy

Then market price of 75 shares = Rsy

Profit% on investment  = 12%

12% of 75y  = Rs 657

`=> 12/100 xx 75"y" = "Rs"  657`

`=> "y" = "Rs"  75`

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APPEARS IN

 Selina Solution for Concise Mathematics for Class 10 ICSE (2020 (Latest))
Chapter 3: Shares and Dividend
Exercise 3(B) | Q: 1 | Page no. 36
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Solution A Man Buys 75, Rs 100 Shares of a Company Which Pays 9 per Cent Dividend. He Buys Shares at Such a Price that He Gets 12 per Cent of His Money. at What Price Did He Buy the Shares? Concept: Shares and Dividends.
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