Vimal sold a certain number of rs.20 shares,paying 8% dividend,at rs.18 and invested the proceeds in rs. 10 shares,paying 12% dividend, at 50% premium. If his annual dividend income decreases by rs.120, find the number of shares sold by Vimal.
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Answered by
23
let transaction = lcm of 18 & 15 (selling & buying rates) = rs 90
then 5 shares sold @ rs18 & 6 shares bought @ rs15
annual loss = 5*20*0.08 - 6*10*0.12 = rs0.80
since loss was rs 120,
# of shares = 120/0.8 = 150
then 5 shares sold @ rs18 & 6 shares bought @ rs15
annual loss = 5*20*0.08 - 6*10*0.12 = rs0.80
since loss was rs 120,
# of shares = 120/0.8 = 150
Answered by
14
Total shares sold at less price than purchased one and hence toal loss annually is equal to 120 Rs.Therefore no. of shares sold is equal to 750
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