A man buys rs 60 shares of a company which pays 10% dividend. He buys the shares at such a prize that his profit is 15% on his investment. at what price did he buy the shares?
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Answer:
40
Step-by-step explanation:
The dividend (profit) given by the company on 1 share = 10% of Rs. 60
=Rs 6
Suppose the man buys one share of Rs x
His profit = 15% of Rs x
= Rs 15x/100
According to the statement, 15x/100
=6
x= 600/15
x= 40
Man buys each share for 40.
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