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A Man Has 300, Rs 50 Shares of a Company Paying 20% Dividend. Find His Net Income After Paying 3% Income Tax. - Mathematics

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Question

A man has 300, Rs 50 shares of a company paying 20% dividend. Find his net income after paying 3% income tax.

Solution

Nominal value of 1 share = Rs 50

Nominal value of 300 shares = 300 × 50 = Rs 15,000

∴ Dividend = `20% "of Rs"  15000`

`= 20/100 xx 15000 = "Rs"  3000`

∴ Income tax paid = 3% of Rs 3000

`=   3/100 xx 3000 = "Rs"  90`

His net income = Rs 3,000 – Rs 90 = Rs 2,910

  Is there an error in this question or solution?
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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: 11 | Page no. 29
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A Man Has 300, Rs 50 Shares of a Company Paying 20% Dividend. Find His Net Income After Paying 3% Income Tax. Concept: Shares and Dividends.
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