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ICSE Class 10 Answered

A man invested Rs. 45000 in 15 % Rs.100 shares quoted at Rs 125. When the market value of  these shares rose to Rs 140, he sold some shares, just enough to raise Rs 8400 ? Calculate:

(i)      The number of shares he still holds

(ii)    The dividend due to him on these remaining shares

Asked by AMIT | 13 Apr, 2017, 07:20: PM
answered-by-expert Expert Answer
begin mathsize 14px style left parenthesis straight i right parenthesis Total space investment equals Rs. space 45000 Market space value space of space 1 space share equals Rs. space 125 rightwards double arrow No. space of space shares space purchased equals 45000 over 125 equals 360 Nominal space value space of space 360 space shares equals Rs. space 100 cross times 360 equals Rs. space 36000 Let space the space no. space of space shares space sold equals straight n Then comma space sale space price space of space 1 space share equals Rs. space 140 Total space price space of space straight n space shares equals Rs. space 8400 Then comma space straight n equals 8400 over 140 equals 60 Thus comma space the space number space of space shares space he space still space hold equals 360 minus 60 equals 300 left parenthesis ii right parenthesis Nominal space value space of space 300 space shares equals Rs. space 100 cross times 300 equals Rs. space 30 comma 000 Dividend percent sign equals 15 percent sign Dividend equals 15 percent sign space of space Rs. space 30 comma 000 equals 15 over 100 cross times 30000 equals Rs. space 4500 end style
Answered by Rashmi Khot | 13 Apr, 2017, 11:46: PM

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