ashish bought 4500, rupees 10 shares paying 12 percent per annum. he sold them when the price Rose to 23 rupees and invested the proceeds in rupees 25 shares paying 10 percent per annum, at rupees 18.find the change in his annual income.
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Answer:
Rs. 360
Step-by-step explanation:
Total number of share = 450.
Value of one share Rs. 10.
Dividend = 2% per annum.
The total value of 10 shares = Rs 4500.
Therefore, dividend is 2% of Rs. 4500, i.e., 2/100 * 4500 = Rs. 90.
Hence, total money = 4500+90 = Rs. 4590.
Therefore, new share amount = 23 *450 = Rs. 10350.
Therefore, 10350/25 = Rs. 414.
Hence, 450-414 = Rs. 36.
Since there are 10 shares, hence the change in income is 10 X 36 = Rs. 360
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