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Question

A man invested Rs 45,000 in 15% Rs 100 shares quoted at Rs 125. When the market value of these shares rose to Rs 140, he sold some shares, just enough to raise Rs 8400. Calculate the :
(i) Number of shares he still holds ;
(ii) Dividend due to him on these remaining shares.
[3 MARKS]


Solution

Each subpart: 1.5 Marks

(i) No. of shares he had =45000125=360
No. of shares he sold =8400140=60
No. of shares he still holds = 360 - 60
= 300 shares.
(ii) Dividend=Rs(15100×100×300)=Rs4500

Mathematics

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