31.
A man invested Rs. 4455 in Rs. 10 shares quoted at Rs. 8.25. If the rate of dividend be 12%, his annual income is
Answer: C
Find how many shares Rs. 4455 buys at Rs. 8.25 each.
\[ n = \frac{4455}{8.25} = 540 \text{ shares} \]
Each Rs. 10 share pays a 12% dividend:
\[ 0.12 \times 10 = \text{Rs. } 1.20 \text{ per share} \]
\[ 540 \times 1.20 = \text{Rs. } 648 \]
The dividend rides on the Rs. 10 face value, not on the Rs. 8.25 paid.
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