Multiple choice

If Raju invests Rs. 24,000, and incurs dividend at 10% for the face value of Rs. 60 each in shares, quoted at Rs. 48 for one share, which of the following could be his income from shares?

  1. Rs. 4000

  2. Rs. 3000

  3. Rs. 5000

  4. Rs. 6000

  5. Rs. 1000

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Number of shares = Sum invested/Market value of the share = Rs. 24,000/Rs. 48 = 500 Income = Face value of the share x Number of shares x Rate of dividend = Rs. 60 x 500 x (10/100) = Rs. 3000