An investor buys Rs.1200 worth of share in company each month. During the first 5 months he bought the share at a price Rs.10,12,15,20and24 per share.After 5 months what is the average price paid for the shares by him.
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Answer:
Average share price 14.63
Step-by-step explanation:
Spread of shares bought:
Month 1- 1200/10=120
Month 2- 1200/12=100
Month 3- 1200/15=80
Month 4- 1200/20=60
Month 5- 1200/24=50
Total money spent- 1200*5=6000
Total shares bought- 120+100+80+60+50=410
Average price per share= 6000/410= 14.63
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