Question:
A person has deposited Rs. 13,200 in a bank which pays 14% inferest. He withdraws the money and invests in Rs. 100 stock at Rs. 110 which pays a dividend of 15%. How much does he gain or lose?
A person has deposited Rs. 13,200 in a bank which pays 14% inferest. He withdraws the money and invests in Rs. 100 stock at Rs. 110 which pays a dividend of 15%. How much does he gain or lose?
Updated On: Oct 4, 2024
- Loses Rs. 48
- Goins Rs. 48
- Loses Rs. 132
- Gains Rs. 132
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The Correct Option is A
Solution and Explanation
Principal sum = Rs. 13,200 and rate of interest = 14%
\(\rightarrow\)Interest earned =\(\frac{14}{100}\times13200=Rs.1848\)
Thus, number of shares purchased=\(\frac{13200}{110}=120\)
\(\rightarrow\)Income from stock = (15% of Rs. 100) x 120
\(\rightarrow 15×120=Rs.1800\)
Therefore, Loss =\(1848-1800=Rs.48\)
The correct answer is (A) : Loses Rs. 48
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