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Ms Shriya bought 1000 shares worth Rs. 5...

Ms Shriya bought 1000 shares worth Rs. 500 each at 12% premium. Find the market value of each share.

A

Rs. 612

B

Rs. 560

C

Rs. 760

D

Rs. 840

Text Solution

Verified by Experts

The correct Answer is:
B
The number of shares `=1000`
`FV= Rs. 500`
Premium `=12%` of Rs. `500=` Rs. `60`
`MV=FV+` Premium `= Rs. 560`.
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