A man invests Rs.24000 on Rs. 60 shares at a discount of 20% .If the dividend declared by the company is
10% find his annual income.
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Answer:
Annual dividend received= Rs 3000
Step-by-step explanation:
Total investment = Rs 24000
Face value = 60
discount on face value = 20%
=20/100×60 = Rs 12
Therefore, Market value = 60-12 =Rs 48
Total shares purchased = 24000/48 = 500
Total dividend = 10/100×60×500 = Rs 3000
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