rajeev invests 8736 in a company paying 12% dividends when a share of nominal value 100 sells at a premium of 12. find the number of shares bought and annual income
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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Step-by-step explanation:
Nominal value of 120 shares = Rs 40 120= Rs 4,800
Market value of 120 shares= Rs 42.50 120= Rs 5,100
His profit = Rs 5,100 - Rs 4,800= Rs 300 Ans.