Question

Find the number of shares received when Rs 60,000 was invested in the shares of FV Rs 100 and MV Rs 120.

Answer 1

Sum invested = Rs 60,000

MV of each share = Rs 120

∴ Number of shares received = $\frac{\mathrm{Sum}\mathrm{invested}}{\mathrm{MV}\mathrm{of}\mathrm{each}\mathrm{share}}=\frac{60000}{120}$ = 500

Thus, the number of shares received is 500.