A man invested Rs. 4320 in Rs. 10 shares quoted at Rs. 9. If the rate of dividend be 13%, his annual income is:
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Answer:
Rs. 624
Step-by-step explanation:
Given :
Investment (Inv) = Rs. 4320
Nominal Value (N.V.) = Rs. 10
Market Value (M.V.) = Rs. 9
Rate = 13%
Annual Income (A.I.) = ?
The formula for annual income is :
A.I. = Inv / M.V. * N.V. * Rate / 100
= 4320 / 9 * 10 * 13 / 100
= 480 * 10 * 13 / 100
= 4800 * 13 / 100
= 48 * 13
= Rs. 624
Rs. 624 is annual income .......................... ANSWER
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