Sunrise industry issued 80,000 shares of par value Rs 10 each. A dividend of Rs 24,000 was declared by the company. Calculate the rate of dividend for the company.
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Step-by-step explanation:
dividend per share = total dividend/number of shares
dividend per share = 24000/80000
=> 24/80
=> 3/10 => Rs 3/10 per share
% dividend = (100 × dividend per share) / NV
=> (100 × 3/10) / 10
=> 300/100
=> 3%
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