How much should a man invest in rs. 50 shares selling at rs. 60 to obtain an income of rs. 450, if the rate of dividend declared is 10%. Also find his yield percent, to the nearest whole number.
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Step-by-step explanation:
dividend on 1 share at 10% = 10× 50/100
= 5
number of share bought= 450/5= 90
since market value of each share = 60
total investment= 60× 90= 5400
% return= 450× 100/5400= 8.33%
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