If the dividend received from $9 %$ ₹ 40 shares is ₹ 3240, find the number of shares purchased.

450

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600

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900

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800

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Solution

The correct option is C
900

Total income = ₹ 3240
Income on one share $= (9 % o f ₹ 40) = ₹ (\frac{9}{100} \times 40) = ₹ 3.60$

Number of shares $= \frac{Total investment}{Income on 1 share} = \frac{3240}{3.6} = 900$

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