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Question

A man buys 75, Rs 100 shares paying 9 percent dividend. He buys shares at such a price that he gets 12 percent of his money. At what price did he buy the shares ?


Solution

The dividend on the share = 9% of face value
             =9100×100 =  Rs 9

Rate of return=incomeinvestment×100

12=9investment×100

Investment = 75 

so, he bought the shares at RS 75

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