A man invests Rs 10,560 in a company, paying 9% dividend, at the time when its Rs 100 shares can be bought at a premium of Rs 32. Find:
the number of shares bought by him

Answer

To find the number of shares bought by the man, we will follow these steps:

**Step 1: Calculate the market value of each share.**
The nominal value of each share is Rs 100, and the premium is Rs 32. Therefore, the market value of each share can be calculated as:
\[ \text{Market Value} = \text{Nominal Value} + \text{Premium} = 100 + 32 = 132 \text{ Rs} \]

**Step 2: Use the investment amount to find the number of shares.**
The total investment made by the man is Rs 10,560. The number of shares bought can be calculated using the formula:
\[ \text{Number of Shares} = \frac{\text{Total Investment}}{\text{Market Value of Each Share}} \]
Substituting the values we have:
\[ \text{Number of Shares} = \frac{10,560}{132} \]

**Step 3: Perform the division to find the number of shares.**
Now we will divide 10,560 by 132:
\[ \text{Number of Shares} = \frac{10,560}{132} = 80 \]

Thus, the number of shares bought by him is **80**.

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