Mr. Sharma has 60 shares of nominal value Rs.100 and he decides to sell them of when they are at a premium of 60%. He invests the proceeds in shares of nominal value Rs.50 quoted at 4% discount, paying 18% dividend annually. Calculate his annual dividend from these shares?

1,500

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1,600

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1,700

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1,800

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1,900

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Solution

The correct option is D
1,800

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Mr. Sharma has 60 shares of nominal value of ₹ 100 and he decides to sell them when they are a premium of 60 %. He invests the proceeds in shares of nominal value ₹ 50, quoted at 4 % discount, paying 18% dividend annually. Calculate :

(i) the sale proceeds

(ii) the number of shares he buys

(iii) his annual dividend from these shares

Mr Sharma has 60 shares of N.V. Rs 100 and sells them when they are at a premium of 60 %. He invests the proceeds in shares of nominal value Rs 50, quoted at 4% discount, and paying 18% dividend annually. Calculate :

(i) the sale proceeds;

(ii) the number of shares he buys; and

(iii) his annual dividend from the shares.

Q. Mr. sharma has