How many shares of rs. 120 each at rs. 150 should lujan sell to get rs. 3450
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Answer:
Number of shares=50
Face value of each share=Rs.100
Market value of each share=Rs.132
Total face value=Rs.100×50
=Rs.5,000
(i) Total investment=Rs.132×50
=Rs.6,600
(ii) Rate of dividend =7.5%
Annual income=Rs.
100
5,000×7.5
=Rs.375
(iii) Let extra share should he buy be x.
then total number of shares=50+x
Total face value=Rs.100×(50+x)
∴ Annual income=Rs.
100
100×(50+x)×7.5
=(50+x)×7.5
∴(50+x)×7.5=375+150
50+x=
7.5
525
=70
x=70−50=20
Hence, the extra shares should be buy=20.
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