Question

Calculate the money required to buy:
350, Rs 20 shares at a premium of Rs 7

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Given: 350, Rs 20 shares at a premium of Rs 7.

To Find: The money required to buy the shares.

Solution:

The total money required to buy the 350 shares is Rs. 9,450.

The total number of shares given is 350.

Share premium is the difference between the par value of a company's shares and the total amount of money a company receives for shares recently issued.

Per-share value is Rs. 20

Premium is added to the per value which will be 20+7= 27

The formula for calculating the money required to buy shares is;

No. of shares bought = Money invested/ per share value

Therefore, the money required to buy 350 shares = 350× 27

= 9,450

Hence, the total money required to buy the 350 shares is Rs. 9,450.

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