A man invested RS 9000 in 3% RS 100 shares at a discount of 10%He sold all the shares at Rs95 each an invested the proceeds in 4% (Rs 50) at par. Calculate sale proceeds, no of shares bought in second company
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Answer:
Change Rs 80
step by step explanation:
Let 'x' be the number of shares of 3%(Rs 100) at a discount of 10%
=> x*100*(1-10%) = 9,000
=>x = 100
Thus, initially he has bought 100 shares.
SO, his initial income from shares would be 100*3
= 300 Rs.
He sold all the shares at rate of 95
=> he has earned 95*100
= 9500.
He has invested Rs 9500 in 4%(Rs 50) shares
=>Let y be the number of such shares
so, y*50 = 9500
=> y = 190.
His final income would become
= 4% (rs 50)* 190
= 380 Rs
His change in income was Rs 80.
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