Question

A man invests * 7,770 in a company paying 5 per cent dividendwhen a share of nominal value of 100 sells at a premium of5. Find :(i) the number of shares bought;(ii)annual income;(iii) percentage income.​

Answer 1

Total money invested = Rs. 7,770

Nominal value of 1 share = Rs. 100

Market value of 1 share = Rs. 100 + Rs. 5 = Rs. 105

∴ No of shares purchased = 7770/105=74

Nominal value of 74 shares = 74 × 100 = Rs. 7,400

Annual income = 5% of Rs. 7,400

$= \frac{5}{100} \times 7400$

$= rs.370$

$income\% = \frac{370}{7770} \times 100\% = 4.76\%$

Step-by-step explanation:

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Answer 2

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