By selling at Rs 77 some 9/4% shares of face value Rs 100 and investing the proceeds in 6% shares of face value Rs 100 selling at Rs 110 a person increased his income by Rs 117 per annum how many shares did he sell.

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Solution

If he sold x shares, then he'd have made
.0214x (9/4%)

By selling them, he received 77x
Investing them, he bought

77x/100 shares of 6% shares.

77x/100 * .06 = .0462x

So, he increased his income by
(.0462-.0214)x = 117
x = Rs 4717.74

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