A man buys 400, twenty-rupee shares at a premium of Rs. 4 each and receives a dividend of 12%. Find his total income from the shares.

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Solution

No. of share $= 400$

N.V of 1 share $= 20$

Premium $=$ Rs. $4$

$∴$ M.V of 1 share $= 20 + 4 = R s .24$

Div% $= 12$ %

$∴$ Total income $=$ No.of shares $\times$ N.V of 1 share $\times$ div%

$\Rightarrow 400 \times 20 \times \frac{12}{100} = R s .960$

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