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ICSE Class 10 Answered

John had 1000 shares of company with the face value of Rs. 40/- and paying 8% dividend. He sold some the shares at a discount of  10% and invested the proceeds in Rs 20 shares at a premium of 50 % and paying 12% dividend . If the change in his income is Rs. 192 /- . Find the number of shares sold by John.   
Asked by jsshetty03 | 24 Nov, 2018, 04:19: PM
answered-by-expert Expert Answer
Initial income from 1000 shares of value Rs.40 at 8% dividend  = 1000×40×(8/100) = Rs. 3200
 
Amount for selling x shares at 10% discount = Rs. 36x .................(1) 
 
If share value is Rs 20 and purchased with premium 10% ,
number of shares purchased from the amount Rs. 36x,   = 36x/30 = 6x/5
 
Income from existing old shares = (1000-x)×40×8/100 = ( 1000 - x )×(16/5)
Income from new shares  = (6x/5) × 20 × (12/100) = 72x / 25
 
total income = begin mathsize 12px style open parentheses 1000 space minus space x close parentheses 16 over 5 space plus space fraction numerator 72 x over denominator 25 end fraction space equals space 3200 space minus space 192 space equals space 3008 end style
solving the above equation for x, we get x = 600
 
Hence number of shares sold is 600
Answered by Thiyagarajan K | 24 Nov, 2018, 11:35: PM

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