Question

A man has some shares of rs 100 par value paying 6% dividend.he sells half of these at a discount of 10% and invests the proceeds in 7% rs 50 shares at a premium of rs 10.this transaction decreases his income from dividends by rs 120. calculate 1. the number of shares before the transaction. 2. the number of shares he sold. 3. his initial annual income from shares.

Answer 1

Convert it into a quadratic equation you will get answer.