A company declares 8 percent dividend to the shareholders. If a man receives Rs 2,840 as his dividend, find the nominal value of his shares.
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Solution
Given, Dividend %=8% Nd, the dividend is Rs2,840 Let the nominal value of shares be Rsy Then, 8% of y=Rs2,840 (8/100)×y=Rs2,840 y=Rs35,500 Thus, the nominal value of the man's share is Rs35,500