sundar bought 4500 of Rs. 10 shares, paying 2% per annum. He sold them when the price rose to Rs. 23 and invested the proceeds in Rs. 25 shares paying 10% per annum at Rs. 18 . Find the change in his income.
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Total number of share = 450.
Value of one share Rs. 10.
Dividend = 2% per annum.
The total value of 10 shares = Rs 4500.
Therefore, dividend is 2% of Rs. 4500, i.e., 2/100 * 4500 = Rs. 90.
Hence, total money = 4500+90 = Rs. 4590.
Therefore, new share amount = 23 *450 = Rs. 10350.
Therefore, 10350/25 = Rs. 414.
Hence, 450-414 = Rs. 36.
Since there are 10 shares, hence the change in income is 10 X 36 = Rs. 360.
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