By investing Rs. 1620 in 8% stock, Michael earns Rs. 135. The stock is then quoted at

Rs. 80

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Rs. 96

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Rs. 106

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Rs. 108

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Solution

The correct option is C Rs. 96
To earn Rs. 135, investment = Rs. 1620
To earn Rs. 8, investment = Rs. $(\frac{1620}{135} \times 8) = R s . 96$
$∴$ Market value of Rs. 100 stock = Rs. 96.

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