Amit Kumar invests Rs. $36, 000$ in buying Rs. $100$ shares at Rs. $20$ premium. The dividend is $15$ % per annum. Find his yearly dividend. Give your answer to the nearest whole number.

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Solution

Given investment = Rs $36, 000$ .
Face value = Rs $100$ .
Premium = Rs $20$ and dividend = $15$ %.
Number of shares = $36, 000 / 120$ = $300$ .
Dividend = $15$ % of ( $100 * 300$ )
= Rs $4, 500$ .

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