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Question
What annual income is derived by investing ₹ 3760 in 7% stock at ₹ 94?
Sum
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Solution
Given:
Investment = ₹ 3760
Stock rate = 7%
Market price of stock = ₹ 94
Nominal value
= `(3760/94)xx100`
`=376000/94`
= ₹ 4000
Annual income:
= 7% of ₹ 4000
`= 7/100xx4000`
= ₹ 280
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