Mr. Manilal purchased 90 shares of FV ₹100 for MV ₹115. Company declared 9% dividend on the shares. Find : a) sum invested. b) dividend received. c) rate of return.
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Amount invested = Rs 10350 , Dividend Received = 810 Rs , Rate of return
= 7.826 %
Step-by-step explanation:
Mr. Manilal purchased 90 shares of FV ₹100 for MV ₹115
Amount invested = MV * number of Shares
= 115 * 90
= 10350
9 % Dividend on FV = (9/100)100 = Rs 9 per share
Dividend Received = 90 * 9 = 810 Rs
Rate of return = (810/10350) * 100
= 7.826 %
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