Rajeev invests 8736 in a company paying 12% dividend when a share of nominal value of Rs 100 sells at a premium of Rs 12. Find the number of shares bought and annual income. PLZ GIVE RIGHT ANSWER...
Answers
Given : Rajeev invests 8736 in a company paying 12% dividend when a share of nominal value of Rs 100 sells at a premium of Rs 12.
To Find : the number of shares bought and annual income.
Solution:
Amount invested = 8736 Rs
nominal value of Rs 100 sells at a premium of Rs 12
Hence Market value = 100 + 12 = 112 Rs
number of shares bought = 8736/112 = 78
12% dividend
=> Income per share = (12/100) 100 = Rs 12
annual income. = number of shares * income per share
= 78 * 12
= 936 Rs
the number of shares bought = 78
annual income. = Rs 936
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