A wants to secure an annual income of Rs. 1500 by investing in 15% debentures of

Question

A wants to secure an annual income of Rs. 1500 by investing in 15% debentures of face value Rs. 100 each and available for Rs. 104 each. If the brokerage is 1%, then the sum of money he should invest is -

Options:

A . Rs. 10504

B . Rs. 10784

C . Rs. 15000

D . Rs. 19642

Answer: Option A

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