A man buys Rs. 25 shares in company which pays 9 % dividend. The money invested is such that it gives 10 % on investment. At what price did he buy the shares?
A) 22.50 B) 22 C) 20.45 D) 12.50
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Let investment in 8 % stock be x and that in 9 % stock = (7800 - x). Therefore, Money invested in 8 % stock at 90 = Rs. 3600.
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