Discussion :: Stocks and Shares
- Suresh bought 80 shares of Rs. 60 at 6 discount. If the rate of the dividend is 12 %, find the rate of interest obtained.
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Answer : Option D
Explanation :
Given that, the face value of a share = Rs. 60
The price at which the share is bought = Rs. 60 - Rs. 6 = Rs. 54
The number of shares = 80
So, total investment = 80 * 54 = Rs. 4320
Dividend = 12%
Dividend per share = 60 * 12/100 = 7.2
Total dividend = 80 * 7.2 = 576
He earned a dividend of 576 for an investment of Rs. 4320
So, the interest obtained = 
* 100 = 13.3%
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