Question

Samuel invested ruppees 12000 in 18% ruppees 100 shares at 10% discount.He sold the shares when price rose to ruppees 120 and invested the proceeds in 15% ruppees 100 shares of ruppees x,and increased his annual income by ruppees 600.find x

Answer 1

Answer:

Step-by-step explanation:

65

Answer 2

Answer:

Rs. 80

Step-by-step explanation

Total investment = Rs.12000

Face Value = Rs.100

Market Value = 10% discount of FV

 = Rs.90

No. of shares =  12000/90=  400/3

Total Face Value  =  400/3*100=  (40000/3)  

Annual Dividend = 18% of  =  (40000/3 )

=  (18/100)*  (40000/3)=2400

New MV = 120

Amount received on selling  =  (400/3)*120=16000

Let the new MV be X

So, the no. of shares bought  =  16000/X

Total FV of new share = 100 *  16000/X=   1600000/X

New Annual Dividend  =   (12/100)  *  (1600000/X)   =  (15*16000)/X

Increase in income = Rs. 600

600 =  (15*16000)/X-2400  

600X =(15*16000)-2400X  

2400X+600X =(15*16000)

3000X =(15*16000)

3X =(15*16)

X =(5*16)

X =80