ICSE Class 10 Answered
A man sold 300 (rs 30) shares paying 5% at rs18 and invested the proceeds in(rs 20) shares, paying 6% aat rs 15.How many (rs 20) shares did he buy?
Asked by nitinkumarsingh.singh.75 | 15 Jun, 2015, 11:02: AM
Expert Answer
First Case
Nominal value of 1 share = Rs. 30
Nominal value of 300 shares = 30 x 300 = Rs. 9000
market value of 1 share = Rs 18
Market value of 300 shares = 18 x 300 = Rs. 5400
Dividend = 5% of Rs. 9000 = Rs. 450
Second Case
Nominal value of 1 share = Rs 20
Market value of 1 share = Rs. 15
No. of shares purchased = 5400/15 = 360
Man buyies 360 shares of Rs.20.
Answered by Vijaykumar Wani | 15 Jun, 2015, 04:00: PM
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