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Shares worth Rs.300 each were bought at ...

Shares worth Rs.300 each were bought at a discount of Rs.60. The dividend paid was `6%` per annum. Find the rate return.

A

`5%` per annum

B

`6%` per annum

C

`7.5%` per annum

D

`8%` per annum

Text Solution

Verified by Experts

The correct Answer is:
C
Face value of each share = Rs.300
Discound/share = Rs.60
`"Market value of each share (in Rs.)"=300-60=240`
`"Dividend rate"=6%" per annum"`
`"Dividend/share"=6%" of (Rs.300) = Rs.18"`
Let the rate return be `r%`
`r=(18)/(240)(100)=7.5%`.
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