By investing Rs 10500 in a company paying 8% dividend , an annual income of Rs 700 is received. What price is paid for each of Rs 100 share ?
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Step-by-step explanation:
∵ Rs 8 divident received on base value of Rs 100
∴ 1 --------------------------------------------------------------- = 100÷8
∴ 700 ---------------------------------------------------------- = 100×700÷8 = 8750
∵ 100 is paid for 1 share
∴ 1 ----------------------------- = 1÷100
∴ 8750 ---------------------- = 8750×1÷100 = 87.50
∴ 10500 -------------------- = 10500×1÷100 = 105
Price paid for each of Rs 100 share = 105-87.50= 17.50
Answer - Rs 17.50 paid for each of Rs 100 share
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