Question--->A man buys a Rs 40 shares in a company,which pays 10% dividend. He buys the share at such a price that his profit is 16% on his investment. At what price did he buy the share?
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Given:
A man buys a Rs 40 shares in a company,which pays 10% dividend. He buys the share at such a price that his profit is 16% on his investment.
To Find:
At what price did he buy the share?
Solution:
We know that,
Dividend given by company on 1 share = 10% of Rs 40 = Rs 4
Suppose the man buys one share for Rs x
His profit=16% of Rs x = Rs 16x /100
According to the statement,
16x/100 = 4
=> x = 25
Hence, the man bought the share at Rs. 25.
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