If the dividend received from $9 %$ Rs 40 shares is Rs 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 = Rs 3240

Income on one share $= (9 % o f R s 20) = R s (\frac{9}{100} \times 40) = R s 3.60$

Number of shares $= \frac{T o t a l i n v e s t m e n t}{I n c o m e o n 1 s h a r e} = \frac{3240}{3.6} = 900$

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